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I n c o r p o r a t i n g A U S T R A L A S I A N F O R E S T L O G G E R & S AW M I L L E R SEPTEMBER 2017
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$2 billion Visy investment pledge A
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nthony Pratt will invest billions of dollars into his cardboard and recycling empire, which is expected to create 5,000 new jobs over the next decade. The money will go towards a major expansion of Visy’s Australian operations. “The $2 billion investment pledge I’m announcing will be spent expanding Visy’s manufacturing capabilities throughout Australia including new investments in clean energy,” he said. “We are one of the most environmentally committed companies and so much of the $2 billion will be spent on technologies that not only create those high-paying manufacturing jobs, but also enhance sustainability and energy security. “At the end of the 10-year investment program, Visy’s total investment in Australia will be $8 billion in today’s terms, and we will have created a total of almost 30,000 direct and indirect jobs,” he said. Mr Pratt made the announcement with Prime Minister Malcolm Turnbull at the opening of Visy’s $1.1 billion pulp and paper mill at Tumut. The Tumut mill has recently received a $100 million upgrade. “This shows what investment does. You know everything my government does is designed to encourage Australian businesses to invest. Why is that? Because it delivers jobs,” the
Prime Minister told those attending the official function. “Everything we’re doing is trying to encourage more investment and more jobs. So right across the board everything we’re doing is focused on encouraging investment of the kind Anthony is making. “What you’ve got here is a demonstration of what you can do with the right technology, the right leadership, the right vision, the right investment. And we’re providing the incentives. “In an industry which many people are pessimistic about - manufacturing you’ve demonstrated that Australians can do anything and be world leaders and you are,” the Prime Minister said. “We congratulate you, we salute you for the commitment you’ve made here and that you’re making to Australian manufacturing and Australian jobs. What a pledge - $2 billion over 10 years, 5,000 jobs. I tell you that’s a big commitment. That really moves the needle. That will change lives, thousands of them for the better,” Mr Turnbull said.
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¢ Anthony Pratt and Prime Minister Malcolm Turnbull at the Visy Tumut mill.
Visy Tumut is a $1.1 billion paper mill and the world’s most modern and sustainable facility of its type. The high-tech mill manufactures paper from plantation pine logs and sawmill residues. Annual production values exceed $500 million, with more than 60% of the paper exported around the world. This high export focus makes the Tumut mill Australia’s largest exporter of shipping containers of manufactured product. The mill’s focus on manufactured exports has a double benefit for Australia because it is helping to turn around Australia’s
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historic trade deficit in forestry ad paper products -- currently running at around $2 billion a year. The Tumut project contributes around $1.5 billion of economic value to the Australian economy every year, plus major other regional benefits. The project has created and sustains more than 3,000 permanent Australian jobs. These include 300 people employed within the mill itself, from engineers, computer operators, papermakers, environmental technicians to finance and marketing specialists. Continued on page 4
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