Benzinga | Aug 16, 2021 09:56AM EDT

Amcor To Invest ~$35M To Build Innovation Centers In China, Belgium

* Packaging company Amcor PLC (NYSE:AMCR) plans to build two innovation centers in Ghent, Belgium, and Jiangyin, China. The total investment is expected to be about $35 million.

* Both the centers will be open to customers by mid-2022, with full build-out over the next two years.

* The move is a part of Amcor's strategy to allow customers globally to tap into its deep material science expertise and packaging development capabilities.

* "Our innovation and design centers offer customers a unique space to test new ideas and technologies across a variety of materials and formats without disrupting commercial operations," said Chief Technology Officer William Jackson.

* Price Action: AMCR shares are trading lower by 0.37% at $12.11 on the last check Monday.