Orora has reached agreement to sell its former carton board mill site in Petrie, Queensland, Australia, to Moreton Bay Regional Council for a total consideration of $50.5 million.

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Orora to sell its former carton board mill site in Queensland to Moreton Bay Regional Council

Jul 21, 2015. /Lesprom Network/. Orora has reached agreement to sell its former carton board mill site in Petrie, Queensland, Australia, to Moreton Bay Regional Council for a total consideration of $50.5 million, as the company said in the press release received by Lesprom Network.

Orora will receive $20 million on the exchange of contracts and the balance of the proceeds will be paid as decommissioning of the site progresses over the next two years. The total profit on the sale is anticipated to be approximately $10 million.

Orora Ltd is an Australia-based company engaged in packaging business.