Visy Executive Chairman Anthony Pratt has announced a $2 billion investment in Australian manufacturing over the next 10 years.
The announcement was made during a recent visit to Visy’s glass plant in Penrith, NSW by Prime Minister Scott Morrison.
“Visy applauds the Prime Minister’s six sector manufacturing focus, including our two sectors, recycling and clean energy, and food and beverage manufacturing,” Pratt said.
“Spurred on by this, Visy is proud to have made the biggest Australian manufacturing acquisition of 2020, a $1 billion deal to make glass bottles.”
In July last year, Visy announced the acquisition of glass manufacturing business of Owens Illinois – the largest manufacturer of glass bottles and containers in Australia and New Zealand.
“Today we are pledging to invest an additional $2 billion over the next 10 years, which will create thousands of new green collar, well paying manufacturing jobs, and bring our total investment value in Australia to $11 billion,” Pratt said.
According to Pratt, the investment will be spent increasing the recycled content of glass bottles in Australia from 30 to 70 per cent, including offering councils a glass recycling bin.
He added that Visy will build another clean energy plant in Victoria that runs on paper mill rejects, increase capacity at its NSW recycled plastics factory, and invest in water recycling projects to reduce water usage at Visy’s paper mills by 40 per cent.
“These initiatives will not only reduce landfills but also increase the recycled content of our customer’s packaging, which we call remanufactured right here in Australia,” Pratt said.
Morrison thanked Pratt for his support of Australian manufacturing, while highlighting the Federal Government’s commitment to recycling industry investment.
“As we learned today, when you use recycled glass, it reduces the amount of energy you need in the process to make those jars and those bottles by one third,” he said.
“So it’s not only great for the circular economy, it’s also great for reducing emissions.”