U.S. takeover of Aussie wine labels giant
The U.S. firm Multi-Color Corporation is buying the Australian printing company Collotype, the world's biggest producer of wine labels.
Collotype, with headquarters in Adelaide, has produced wine labels since 1903 for customers in Australia, the United States and South Africa.
The company's managing director, Nigel Vinecombe, said the proposed buyout won't affect Collotype's 600 employees.
He told the Australian Broadcasting Corporation "in terms of our existing business, nothing really changes apart from us having a stronger financial partner."
Multi-Color's headquarters are in Sharonville, Ohio. It specializes in supplying "innovative label solutions," heat transfer labels, cut-and-stack and pressure sensitive labels and shrink sleeves, a release from the company said. // Copyright 2007 by United Press International
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Cricova: The Largest Underground Wine Cellar in the World
- What does Remortgage mean?
- Dutch bear profit rises 26 percent
- Foreign direct investment in India doubles during 2006
- Greece: Socialist government's budget deficit of 12.5% caused debt crisis
- Toyota in talks to build new China plant
- Walt Disney profit up 39 percent
- DaimlerChrysler is not planning to manufacture trucks in India