Amcor, the world’s largest consumer packaging company, pushed through price increases of 12 per cent in financial 2022 that equated to US$1.53 billion ($2.2 billion) of extra imposts to its customer base after resin, plastic films and aluminium prices soared.

Chief executive Ron Delia said the company will sell three factories in Russia, and book a $US200 million impairment for its Russian and Ukraine operations as it exits from Russia a few months after the invasion of Ukraine made it increasingly untenable to keep operating plants.