Anfor in joint box venture

Press, 25 February 1987, Page 33

Anfor in joint box venture

The chairman of Anfor Pty, Ltd, Mr W. A. Hunt, has announced that Anfor, which is jointly owned by NZ Forest Products, Ltd, and Amcor, Ltd, of Australia, has entered into a joint venture to make corrugated fibreboard boxes in Singapore. The joint venture is with Metal Box Singapore, Ltd (MBS), an associated company of the U.K.based Metal Box Group. Anfor has bought a 50 per cent interest in the existing MBS corrugated box business, which in turn has acquired the assets of another Singa-pore-based corrugated box manufacturer, Puvaria Packaging Industries, Pty, Ltd. Together these businesses hold about 25 per cent of the

Singapore corrugated box market. Anfor paid _ sSings million cash for its’so per cent interest in the MBS corrugated box company. Anfor and MBS will each subscribe an additional sSings million in capital which, together with external borrowings, will be used by the joint venture company to acquire the assets of Puvaria Packaging. Anfor is proceeding with two other manufacturing ventures — a SNZBB million project to make medium density fibreboard at Oberon, near Bathurst, New South Wales, and a SNZI2 million plant to make corrugated boxes in Hong Kong. Both plants are under construction.