FORM 6-K
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16
or 15d-16
of the Securities Exchange Act of 1934
For the month of March 2005
Amcor Limited
(Translation of registrant’s name into English)
679 Victoria Street Abbotsford
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ý Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ý No o
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- 0000869428
News Release
For Release: Wednesday, March 9, 2005
AMCOR WINS HIGH COURT DECISION
Amcor announces today the favourable decision of the High Court in the matter of Amcor versus the CFMEU and is pleased its resolve in pursuing the matter to the High Court has been rewarded. The Federal Court had previously decided that the demerger of PaperlinX from Amcor in April 2000, and the necessary transfer of employees from Amcor to PaperlinX connected with that demerger, triggered an entitlement to redundancy/severance payments. The High Court decision today overturns the earlier decisions of the Federal Court and finds that no such entitlement arises.
ENDS
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For further information please contact: |
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John Murray |
Bert Guy |
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Executive General Manager |
Company Secretary |
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Corporate Affairs |
Amcor Limited |
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Amcor Limited |
Ph: +61 3 9226 9037 |
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Ph: 0407 533 255 |
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Amcor Limited ABN 62 000 017 372
679 Victoria Street Abbotsford Victoria 3067 Australia
GPO Box 1643N Melbourne Victoria 3001 Australia
Tel: 61 3 9226 9000 Fax: 61 3 9226 9050
www.amcor.com
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For release: Friday, March 18, 2005
AMCOR COMMENT ON RATINGS ANNOUNCEMENT
Standard & Poor’s Ratings Services announced today that it has
lowered Amcor’s corporate credit ratings from BBB+/A-2 to
BBB/A-3. The outlook for the rating has been set at negative. The subordinated
debt (PRIDES) rating has been lowered by one grading to BBB- and the junior
subordinated debt (PACRS) has been lowered to BB+.
Amcor’s outstanding debt, including hybrid instruments, totalled AUD 3.4 billion at 31 December 2004 with approximately 65% at fixed rates and 35% at floating rates. The average maturity of non-current debt is six years with staggered maturities out to December 2017, thus limiting refinancing risk.
A credit rating pricing grid is included in Amcor’s major debt facilities and the downgrade will have an impact on the cost of floating rate debt. On a full year, going forward basis the impact is not expected to exceed AUD 5.0 million per annum with an insignificant effect in the 2004/05 year. Interest cover at the EBITDA level remains strong at 6.8 times, based on the half year results to 31 December 2004.
Amcor continues to receive good support from credit providers in the bank debt and capital markets.
ENDS
For further information please contact:
W. Peter Day
Executive General Manager, Finance
Amcor Limited
Ph: +61 3 9226 9007
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Amcor Ltd |
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By: |
/s/ BERT GUY |
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Name: |
Bert Guy |
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Title: |
Company Secretary |
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Date March 21, 2005 |
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