Amcor will open a new packaging plant in the Philippines as it pursues earnings growth in emerging markets.
Managing director Ken MacKenzie says Amcor, which makes flexible packages for tea, coffee, food and tobacco, will open the plant by the end of the 2015/16 financial year.
He told shareholders at Amcor's annual meeting on Thursday that the plant would supply packaging for a large multinational customer in the consumer products segment.
"This will be a dedicated facility supported by a long-term supply agreement," he said.
News of the new plant comes two months after Amcor announced plans to build a tobacco packaging plant in Indonesia.
Amcor reaps nearly a third of its revenue from emerging markets across Asia, south and central America, Eastern Europe and Russia.
It has been eyeing growth in these markets amid expectations of increasing demand for packaged goods as economies there expand.
Mr MacKenzie also reiterated to the meeting that Amcor was on track to lift earnings this financial year after enjoying a solid start to 2014/15.
"In summary, first quarter trading for Amcor has been broadly consistent with the expectations outlined at the full year results in August," he said.
"Volumes in developed markets remain subdued and in emerging markets there continues to be good growth.
"Overall, it is anticipated that the benefits from recent acquisitions, growth in emerging markets, margin expansion through innovation and cost reduction initiatives will all combine to deliver another year of higher earnings."
Amcor's net profit lifted 25 per cent in 2013/14 to $737 million, aided in part by acquisitions and growth in its packaging businesses in emerging markets.
Mr MacKenzie said the pipeline of acquisition opportunities remained strong after the company snared deals in China, Australia, India and Indonesia last financial year.
Amcor's shares were eight cents lower at $11.20 at 1237 AEDT.
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