Several organisations have expressed interest in buying the office products business of Avery Dennison following the collapse of the takeover deal by 3M.
Avery Dennison CEO Dean Scarborough told an investor conference in the US last week that a number of financial groups and corporations had approached the company but no details were released.
Avery Dennison's third-quarter earnings rose 8.5 per cent as the company reported stronger margins and a larger contribution from the office-and-consumer products business that it is trying to sell. The division is listed as a discontinued business.
Shares in Avery Dennison rose by 8.1 per cent after the company reported better-than-expected results for the third quarter and raised its annual net income guidance.
Net sales at its retail-branding and information-solutions segment were up seven per cent, driven by increased demand from US and European retailers and brands.
