Amcor Plc Stock Price, News & Analysis

Amcor plc (NYSE: AMCR) will announce its Half Year 2023 results on February 7, 2023, after US market close. The results cover the six-month period ending December 31, 2022. A conference call and webcast will be held at 5:30 PM EST on the same day to discuss these results, accessible via several international dial-in numbers. Participants can find the webcast and supporting materials on the Investors section of Amcor's website. This announcement highlights Amcor's commitment to transparency and stakeholder engagement in the financial reporting process.

Amcor (NYSE: AMCR) announced its acquisition of Shanghai-based MDK, a leader in medical device packaging with annual sales of approximately $50 million. This acquisition aims to enhance Amcor’s presence in the growing medical device packaging segment, particularly in the Asia Pacific region, where it now operates four manufacturing sites across China, India, Japan, and Southeast Asia. The acquisition is projected to close in the March 2023 quarter, subject to regulatory approvals. The move is expected to unlock value creation opportunities and strengthen Amcor's healthcare platform, enhancing returns for shareholders.

Amcor has completed the sale of its three factories in Russia to HS Investments for €370 million, after obtaining necessary regulatory approvals. This move follows Amcor's strategy to divest its Russian operations while maintaining support for its employees and customers. The factories, located in St. Petersburg and Novgorod, accounted for approximately 2% of Amcor's total sales in fiscal 2022. The proceeds from this sale will primarily be directed towards debt repayment and share repurchases, with no material impact expected on Amcor's fiscal 2023 outlook.

Amcor (NYSE: AMCR) has signed a Memorandum of Understanding with Licella Holdings to invest in one of Australia's first advanced plastic recycling facilities, aimed at creating a local circular economy for soft plastics. This facility, located in Melbourne, plans to process 20,000 tonnes of waste plastic annually using Licella's Cat-HTR technology. The project has received approval from the Victorian Environmental Protection Agency. This partnership supports Amcor's goal of achieving 30% recycled content in its products by 2030.

Amcor (NYSE: AMCR) has inaugurated its new 590,000-square-foot flexible packaging plant in Huizhou, China, following a nearly $100 million investment. This facility is the largest of its kind in China by production capacity and is expected to create over 550 jobs. It features advanced automation and smart technology, including the first automated packaging production line in the country. The plant will enhance Amcor's ability to meet rising demand across Asia Pacific and incorporates sustainable practices to reduce its carbon footprint.

Amcor has secured a five-year agreement with ExxonMobil to purchase certified-circular polyethylene material, aiming to reach 100,000 metric tons annually by the end of the deal. This partnership supports Amcor's goal of incorporating 30% recycled material in its products by 2030. The material will be sourced from ExxonMobil's advanced recycling facility in Baytown, Texas, designed to recycle 30,000 metric tons of plastic waste yearly. Amcor continues its commitment to sustainability, with 74% of its products already designed to be recyclable.

Amcor (NYSE: AMCR) announced a US$3 million investment in PulPac, a Swedish company revolutionizing fiber-based packaging technology. This collaboration is part of a cross-industry alliance aimed at accelerating PulPac's global commercialization of its eco-friendly packaging solutions, which reduce CO₂ emissions by 80%. As Amcor continues to enhance its AmFiber platform for sustainable packaging, this investment emphasizes its commitment to environmentally responsible products. The partnership is expected to optimize product shapes for various applications, aligning with global sustainability goals.

Wolverine World Wide announces Nicholas T. Long as the new Lead Independent Director, effective November 4, 2022. Long, who has been on the board since 2011, succeeds Dr. David T. Kollat. He brings over 30 years of experience from major brands, including MillerCoors and Coca-Cola. Long's leadership will focus on strategic objectives in brand-building and marketing. The company expresses gratitude to Kollat for his long service since 2007 during critical transitions.