Linpac Finance: A Concise Overview

Linpac Finance, originally part of the Linpac Group (a major player in the rigid and flexible packaging industry), no longer exists as a standalone entity in the same form. The Linpac Group itself was acquired by Coveris, a global packaging company, in 2017. Therefore, understanding Linpac Finance requires looking at its historical role within the broader Linpac organization and its current, arguably diffused, function within Coveris.

Historically, Linpac Finance was responsible for managing the financial health and stability of the Linpac Group. This encompassed a wide range of functions, including:

• Financial Reporting and Control: Preparing accurate and timely financial statements, ensuring compliance with accounting standards and regulations, and implementing robust internal controls.
• Treasury Management: Overseeing cash flow, managing debt, and mitigating financial risks associated with currency fluctuations and interest rate changes.
• Budgeting and Forecasting: Developing annual budgets and financial forecasts to guide strategic decision-making and monitor performance against targets.
• Investment Appraisal: Evaluating potential investment opportunities, such as capital expenditures and acquisitions, using financial analysis techniques.
• Credit Management: Assessing the creditworthiness of customers and managing accounts receivable to minimize bad debt losses.
• Tax Compliance: Ensuring compliance with tax laws and regulations in all relevant jurisdictions.

The finance department played a crucial role in supporting the growth and expansion of Linpac. They provided financial insights and analysis to inform strategic decisions, such as acquisitions of other packaging companies and investments in new technologies.

Following the acquisition by Coveris, the functions previously managed by Linpac Finance were integrated into Coveris’s global finance operations. While the specific team and branding of “Linpac Finance” disappeared, the underlying financial activities continued within the merged entity. This means Coveris took over responsibility for managing the former Linpac assets and liabilities, ensuring financial stability across the integrated business.

It’s important to note that the integration of Linpac Finance into Coveris likely led to streamlining and standardization of financial processes. This could have resulted in efficiency gains and cost savings. The level of autonomy that the former Linpac finance teams now have within the larger Coveris structure is difficult to ascertain without inside information. However, it’s safe to assume that financial reporting, budgeting, and control processes are now managed according to Coveris’s global standards.

In conclusion, Linpac Finance, as a distinct entity, no longer exists. Its functions and responsibilities were absorbed into Coveris’s global finance organization following the 2017 acquisition. Understanding its historical role is important to appreciate its contribution to the success of the former Linpac Group and its eventual integration into the larger Coveris structure. The principles and practices implemented by Linpac Finance are presumably still in operation, although now managed and overseen by the Coveris financial team.