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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

Wide Open Agriculture (WOA) has secured a $1.2 million tax rebate under the federal R&D Tax Incentive Scheme for FY24. The ASX-listed ingredient company says it reflects the large amount of R&D it has undertaken in developing its proprietary lupin protein isolates ready for market.

Forbidden Foods group revenues for the March quarter were up due to solid growth in physical store and online channels. The company reported a 171 per cent increase in net sales on the prior corresponding period (pcp), from $406,000 to $1.1 million.  

Tasmania-based biotechnology company, Sea Forest, has marked the next step in its journey to reduce harmful methane emissions – partnering with Australian restaurant group, Three Blue Ducks, to serve the world’s first low-emissions steak, Sea Fed Beef.