Orora in Bid to Acquire Saverglass
Australian packaging firm Orora has indicated to the local stock exchange that it’s shares should be suspended until after an announcement has been made to the market. Reports across the financial media suggest that the company is seeking an agreed bid for Saverglass French based glass packaging manufacturer.
"The negotiations will take some days to finalise due to a number of factors including the size and global nature of the target business," Orora said in a statement, while requesting a voluntary suspension of trading in its shares.
Orora Beverage provides glass, aluminium and closures for the drinks industry. The glass manufacturing facility in Gawler, South Australia produces an array of wine and beer bottles in a variety of colours, as well as custom designs and innovative glass bottle sleeving.
The Saverglass Group manufactures and decorates high-end glass bottles for wines and spirits. The company consolidated its presence on the North American continent with the opening of its fifth glass production site and a decor plant in Acatlán, in the state of Jalisco in Mexico, and in December 2019, acquired a wine bottle production plant in Ghlin, Belgium.
