Amcor has appointed Mr Ken MacKenzie as Chief Executive Officer and Managing Director, effective from July 1.
Mr MacKenzie, a 41 year old Canadian national, has had 13 years experience with Amcor working in all the major operating divisions including PET, flexibles, tobacco packaging and closures.
He has managed businesses across the Americas, Europe, Australasia and Asia and has lived in North America, Australia and Europe.
He is currently the Group Managing Director of the Amcor Rentsch and closures business, based in Switzerland.
AMC is one of the biggest global packagers, with around 90% of its products being used by the food and beverage and pharmaceutical industries. It generates relatively steady revenues, due to the long-term nature of most of its contracts with clients that include Nestle, Unilever, Cadbury-Schweppes. Customer relationships are usually of a long-term contractual nature (3-5 years).
Consensus P/E FY 05 13.8 and 11.8 FY 06. Not demanding.
Gearing risk is moderate, but partially mitigated by fixed rate loans for a chunk of bank borrowings.
