Business Career
Under Pratt’s direction, Visy expanded from two factories in Melbourne to more than 55 plants across Australia, United States, New Zealand, and Papua New Guinea. From cardboard boxes and packaging, Visy moved into waste paper recycling. Later in the 1990s Pratt expanded his operations considerably into the New York waste paper business.
In 1993 the National Crime Authority (NCA) raided Pratt's offices in connection with an investigation into businessman John Elliott's foreign exchange dealings and Elliott's spoiling domestic stake in Broken Hill Proprietary Company (BHP, now BHP Billiton) while Elliott's company, Elders IXL, was insolvent. The following year, NCA paid costs and returned documents seized.
Also in the 1990s, Visy was ordered by the Australian Competition and Consumer Commission (ACCC) to pay a half million dollar fine for illegal anti-competitive behaviour.
Read more about this topic: Richard Pratt (Australian Businessman)
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