Pact Group hit by Qenos fallout as Rich Lister circles

Pact Group, the packaging company which Rich Lister Raphael Geminder has been trying to buy out for the past nine months, is facing additional cost pressures after the collapse of Australia’s only plastics resin maker, Qenos.

Pact, which buys “virgin” resin from Qenos for use in manufacturing items such as milk bottles, is among the packaging companies reviewing its supply arrangements. Qenos is still producing polyethylene from its plant at Altona in Melbourne’s industrial suburbs under administrator McGrath Nicol, but the factory faces an uncertain future.