Packaging company Amcor Ltd
(ASX:AMC) is reportedly to spend $33 million on a new can line at its plant in South Auckland to keep up with demand in New Zealand.
According to a report in The Sydney Morning Herald, the investment will also reduce the restrictions on capacity in Australia.
However in the company’s half yearly report it described economic conditions in New Zealand as being difficult and as a result volumes in its Australasian businesses were lower with the exception of its beverage can business.
The paper says the new line for its South Auckland plant is needed to meet the increasing demand for New Zealand’s beverage producers.
Amcor reported profit of $211.7 million for the year to June 30, 2009.
