- Visy Industries
Visy Industries was established in
Melbourne ,Australia in 1948 and has grown to become one of the world’s largest privately-ownedpaper recycling and packaging companies. In 2003, Visy employed more than 8000 people. Total manufacturing revenues exceeded $2.5 billion and total manufacturing assets exceed $3 billion. Visy is owned by Richard Pratt who, as of 2008, is Australia's Fourth Richest Man with a personal fortune of $5.28 billion.The company is named after the wife of one of the original partners, Max Plotka. Her name was Isa Visbord, and she reputedly lent them a thousand pounds to go into business. (The company's original name was Visy Board.)
The company capitalised on the demand for cardboard boxes among the orchardists in
Shepparton , Victoria where the Pratt family was living. Along with Richard Pratt's father Leon, the third partner was an engineer, Les Feldman. The Pratt and Plotka families moved toMelbourne and bought their first factory in the suburb of Fitzroy.Richard Pratt took over the business in
1969 on the death of his father.By the late 1970s Visy was making more than a 100,000 tonnes of boxes a year. In
1979 the company built its first paper recycling machine at Warwick Farm. Following this it expanded significantly, both through acquisition and greenfield sites.By 1990, Visy’s share of the national market had grown to more than 40% and it had more than 2000 employees. In the next decade Visy continued to expand, including entering the USA with a paper recycling operation in
New York .Considered the largest development in Visy's remarkable history, was the construction of Visy's $400 million kraft paper mill in Tumut, New South Wales, Australia. Visy also developed, and therefore own, the worlds larget Materials Recovery Facility (MRF) situated in Smithfeild NSW. This development is considered the largest and most technically advanced recycling facility in Australia.
In December 2005 the
Australian Competition and Consumer Commission commenced prosecution against Visy for alleged involvement in acartel in the packaging industry.In March 2006 there was further controversy when it was revealed former Premier of New South Wales
Bob Carr had accepted a consultancy to advise Visy on recycling.On 2 November 2007 Pratt and the Visy group received a A$36 million fine for price fixing, representing both the largest fine in Australian history.
During the next five years, Visy will invest over $1 billion to build upon its position in existing markets and to establish operations in new markets.
External links
* [http://www.visy.com.au/ Visy website]
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