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Packaging company Plysu has conceded to an offer of acquisition by South African packaging group Nampak, in order to allow it to be part of a large company and so remain competitive in the packaging market.Nampak has offered to buy Plysu for #94.6m (US$150m). Commenting on the deal, the chairman of Plysu, David O'Shaughnessy, said that the offer was an attractive opportunity, `Particularly in view of poor investor sentiment towards smaller companies in the UK and especially in the packaging sector'. He added, `We believe the strengths of the business can be better realised by becoming part of a larger international packaging group.'Following completion of the acquisition, management of Plysu are expected to continue with the Nampak business. It has said that Plysu will be delisted from the London stock exchange if the purchase offer is successful. Nampak spokeman John Sayers told Manufacturing Chemist that it was impossible to comment on any effect the transfer of Plysu may have on manufacturing facilities, while the offer is at a conditional stage.Nampak has been undergoing a period of restructuring this year, to address overcapacity in the packaging industry. It has acquired two tissue manufacturers as well as a manufacturing business from the Alpha Group.