Pa­per mill $ 50m sale

Townsville Bulletin - - NEWS -

PACK­AG­ING com­pany Orora is selling its for­mer car­ton board mill site in Queens­land for $ 50.5 mil­lion. The More­ton Bay Re­gional Coun­cil will buy the Petrie mill, north of Bris­bane, which closed in 2013. Orora, a spin- off from Am­cor, will re­ceive $ 20 mil­lion on the ex­change of con­tracts, with the bal­ance to be paid as decom­mis­sion­ing of the site pro­gresses over the next two years. Sale profit is ex­pected to be about $ 10 mil­lion.

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