Visy injects $2bn into Australian green manufacturing

Visy executive chairman, Anthony Pratt, pledged an additional $2 billion investment into Australian manufacturing over the next 10 years at a Penrith-based press conference last week.

Prime Minister Scott Morrison, Federal Member for Lindsay Melissa McIntosh, Minister for Industry Karen Andrews and Minister for Foreign Affairs Marise Payne were all in attendance for the event.

According to Pratt, this pledged amount will “create thousands of new green collar, well-paying manufacturing jobs, and bring our [Visy’s] total investment value in Australia to $11 billion dollars.”

Pratt praised PM Morrison for his economic policies and attributed investment acceleration to his government.

“$380 million of that investment has been brought forward over the next 18 months because of the government’s accelerated depreciation policy. It’ll be spent increasing the recycled content of glass bottles in Australia from 30 per cent to 70 per cent, including offering councils a glass recycling bin,” Pratt said.

As of 2021, Visy’s operations currently meet two of the Federal Government’s six National Manufacturing Priorities – ‘Food and Beverage’ and ‘Recycling and Clean Energy’.

During his visit to Visy’s Penrith manufacturing centre, where the press conference was held, PM Morrison praised Pratt and Visy for the additional $2bn injection after already initially pledging a $1 billion deal to make glass bottles at the centre in July last year.

“He [Pratt] has given us a shot in the arm when it comes to Australia’s comeback, economic comeback from the COVID-19 recovery,” Morrison said. “It backs in the jobs, it backs in the technology, it backs in the investment, it backs in Australia.”

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