Pact
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Pact launches new rFresh 100 food grade recycled plastic for milk bottles
Pact Group has introduced rFresh 100, a new food-grade recycled plastic designed for milk bottles, aiming to enhance sustainability in packaging.
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Rethinking the CRS: Building a Circular Economy That Works for New Zealand
Pact Group discusses the development of a circular economy in New Zealand, focusing on the Container Return Scheme (CRS) and its role in sustainable packaging.
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Pact Apprentice Finalist Kate Cooper Shines in National Awards
Kate Cooper, an apprentice at Pact Group, has been recognized as a finalist in national awards, highlighting the company's commitment to nurturing talent.
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Deanne Holdsworth Shortlisted for Sustainability Leader Award
Deanne Holdsworth of Pact Group has been shortlisted for a Sustainability Leader Award, reflecting the company's dedication to environmental responsibility.
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Pact Wins Two Sustainability Categories at the 2025 Packaging Design and Innovation Awards
Pact Group has secured two awards in sustainability categories at the 2025 Packaging Design and Innovation Awards, underscoring its leadership in eco-friendly packaging solutions.
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Pact Group Announces Voluntary Delisting from ASX
Pact Group Holdings Ltd. has announced its decision to voluntarily delist from the Australian Securities Exchange (ASX). The company also provided a business update for Q3 FY25, reporting a 2.7% increase in revenue from continuing operations, attributed to higher volumes in the Materials Handling & Pooling segment. Additionally, Pact is undergoing debt refinancing and strategic reviews, including a potential divestment of its Asian packaging and closures business. Early Q4 demand signals are soft due to tariff tensions, high living costs, and supply chain disruptions. The company is also involved in ongoing litigation related to a previous acquisition.
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Pact Group Nears Takeover Completion by Kin Group
Bennamon Industries Pty Ltd, a subsidiary of Kin Group, has made an off-market takeover bid for Pact Group Holdings Ltd, with the offer closing on April 30, 2024. Already controlling 87.40% of Pact shares, Kin Group encourages the remaining shareholders to accept the purchase offer at $0.84 per share, promising payment within 5 business days of acceptance. No Pact shareholders have withdrawn their acceptance during a recent withdrawal period, indicating strong shareholder support for the takeover.
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Pact Group Holdings Reports Revenue Growth Amidst Operational Changes
Pact Group Holdings Ltd reported a 3.5% increase in revenue from continuing operations for the first half of FY25, driven by growth in the Materials Handling & Pooling segment. Despite a significant drop in reported net profit after tax due to the absence of the Crates Business, the company saw an 11.8% rise in underlying EBIT from continuing operations, reflecting improved revenue performance and cost savings from its Transformation Plan. The sale of Viscount Rotational Mouldings Pty Ltd contributed $21.2 million in net cash, although the business was not a major line for the group. The company faces challenges with resin supply and pricing due to the closure of Qenos in Australia, impacting the supply chain.
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Pact Group Appoints New Leadership Team
Pact Group announced the appointment of Raphael Geminder as Executive Chair and Michael Wachtel as Deputy Chair, effective 22 October 2024, alongside a revised remuneration framework for CEO Sanjay Dayal.
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Pact Group's Chairman's Takeover Bid Falls Short
Pact Group's chairman, Raphael Geminder, through his family-owned Kin Group, increased his stake in the company to 87.86% but fell short of the 90% required for compulsory acquisition and delisting from the ASX.
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