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Amcor has announced further plans to streamline its flexibles business which "will likely result in the restructuring or closure of several plants in developed markets”.

The company plans to “align capacity with demand, increase utilisation, and improve costs”.

Reorganisation will include streamlining the organisation, “particularly in Europe”, to lower overhead costs, increase customer focus and improve speed to market by reducing complexity, the company said.

Amcor did not provide exact details of the reorganisation, indicating plans are now being developed.

Delia called the company’s flexible and tobacco packaging business strong, but added that the company needs to take decisive action to make sure the firm is aligned with “market growth opportunities and customer needs”.

Food & Drink Business

Western Australian producer, Brownes Dairy, has been put up for sale according to the Australian Financial Review (AFR), as one of its biggest lenders, China Mengniu Dairy, calls in its $200 million loan. A reduced demand for milk in China and the current positioning of the global market could be driving the decision.

The Central Coast is about to receive a boost to its local food and beverage manufacturing industry, with construction starting on the $17.14 million Food Manufacturing Innovation Hub, funded by the federal government’s National Reconstruction Fund (NFR).

The Australian Industry Group (Ai Group) says Australia is at a “critical crossroads” when it comes to R&D and decades of rhetoric have not delivered material change.