Sydney based packaging firm Austcor is closing the Gold Coast plant of its subsidiary Zac Pac, selling around $10m worth of corrugated and conversion equipment.

The comprises the complete assets of Zac Pac’s only manufacturing facility in Qld. Austcor and its major shareholder packaging company Abbe Group only acquired the Gold Coast factory along with Zac Pac’s Sydney site last year.

Trevor Barnes, managing director of Austcor says, "Following due diligence of the Zac Pac business and a detailed strategic review of the Zac Pac assets, we decided to close the Queensland facility which was essentially a new factory on a greenfield site. The assets have therefore been placed for sale via private tender."

Asset specialists Charterfields are handling the assets sale.

Machinery up for grabs includes a double wall corrugating line, a two colour Flexo folder gluer, a three colour Flexo folder gluer, a Koppers Swift three colour rotary die cutter with stacker and prefeeder, a Tanabe four-point folder gluer and a Converta DC 2450 die cutter.

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Ian Maycock, director, Charterfields adds, "The sale represents an excellent opportunity to acquire a modern corrugating line and ancillary equipment.

“It is rare to see a full facility being offered for sale at the same time and we expect it to attract keen interest from trade buyers from Asia, the US and worldwide."

The 12,000 sqm facility in Stapylton, Gold Coast, opened in 2014, costing $25m.

The sale will run until October 18.

Zacpac was established in 1992 in Sydney by Ed Zac, father of current managing director John Zac. John Zac took over running the company when his father passed away in 2015.  

Austcor was founded in 1988.

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