KEY POINTS:
New Zealand's richest man Graeme Hart is in talks with Amcor about forming a partnership between Carter Holt Harvey's cardboard packaging company and the Australian packaging heavyweight, the Sydney Morning Herald reported today.
Mr Hart has been in discussions with Amcor for two months about a joint venture between the corrugated and paper businesses of Carter Holt Harvey and Amcor, a deal that would generate annual revenue of about A$1 billion, the newspaper said.
The partnership is aimed at giving rival Visy a run for its money.
As it stands, Visy holds the biggest slice of the cardboard box market with 47 per cent.
Amcor, with less than 40 per cent, is the second largest, followed by Carter Holt, which Mr Hart bought last year, according to the SMH.
A deal is due to be announced within months, according to the newspaper.
