Deal activity in the packaging sector in 2006 was a mixed picture, with some significant global transactions but muted activity closer to home despite a flurry before Christmas. Pressure for deal activity continued, with macro-economic factors favouring further consolidation. In a market growing, at best, in line with GDP, consolidation and rationalisation of assets is inevitable to allow the reallocation of capital to emerging higher yield markets, and also so that mature markets can reach an equilibrium of production to allow for profitable operation.
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