Amcor's Savings Goal From Berry Deal Looks Achievable -- Market Talk

Dow Jones11-21 05:56

2156 GMT - Packaging company Amcor's medium-term target of making $650 million of annual savings from its takeover of Berry looks achievable to Jefferies. Half of those savings are likely to come from cutting jobs and the benefits of greater scale in manufacturing. Amcor also expects to save some $60 million in lower net interest costs. "We have long doubted Amcor's ability to deliver above low-single-digit top line growth given consumer packaging is a mature, low growth industry," analyst Henry Copley says. "The merger of Amcor-Berry helps challenge that belief, increasing exposure to the higher margin healthcare market, and diluting exposure to the challenged North American beverage segment." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 20, 2024 16:56 ET (21:56 GMT)

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