Monday, 20 July 2015 09:00

Orora announces sale of Petrie Mill land

Written by
Rate this item
(0 votes)

2015 07 20 085948Orora has announced  that it has reached agreement to sell its former carton board mill site in Petrie, Queensland, to Moreton Bay Regional Council for a total consideration of $50.5 million.

Orora will receive $20 million on the exchange of contracts and the balance of the proceeds will be paid as decommissioning of the site progresses over the next two years. The total profit on the sale is anticipated to be approximately $10 million.

About Orora - the facts

Orora Ltd is headquartered in Melbourne, Australia. The company was created in 2013 after Amcor, one of the world's largest packaging companies with a 150 year history in Australia, demerged their Australasian and Packaging Distribution businesses.

Read 7020 times