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Foreign investment proposal: BTR Nylex Ltd to acquire 100 per cent of ACI International Ltd



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TREASURER

PRESS RELEASE NO. 35

EMBARGO

STATEMENT BY THE TREASURER, THE HON PAUL KEATING, MP

FOREIGN INVESTMENT PROPOSAL : BTR NYLEX LTD TO ACQUIRE 100 PER CENT OF ACI INTERNATIONAL LTD

The Government has decided to raise no objections under foreign investment policy to a proposal by BTR Nylex Ltd to increase its shareholding in Austrac Investments Ltd from 14.9 per cent to 100 per cent and thereby achieve full ownership and control of AC I International Ltd.

BTR is an Australian listed public company owned as to 62.5 per cent t>y BTR· pic of the UK and as to the balance mainly by the Australian public. Its subsidiaries manufacture ahd distribute a wide range of industrial rubber

products, PVC industrial and consumer products, pumps and motor vehicle parts.

ACI is a major Australian producer of building products, packaging, glass products, computer services and security printing.

Austrac is an Australian proprietary company owned as to 14.9 per cent by BTR and as to the balance by the Australian owned Pratt group of companies. Through its wholly owned subsidiary, Beadle Pty Ltd, Austrac recently made a

successful takeover offer for ACI.

The arrangement for BTR Nylex Ltd to lift its shareholding in Austrac from 14.9 per cent to 100 per cent will thereby result in ACI being a 100 per cent subsidiary of BTR.

CANBERRA 26 APRIL 1988