Pact Group announced plans to sell its contract manufacturing division. This business segment produces products like household cleaners, cosmetics, and pharmaceuticals that are sold under other brands. Pact is looking for offers over $200 million for the business, which reported sales of $372 million in 2018-19 with earnings of $25 million. Chief Executive Officer Sanjay Dayal said, Pact's long-term success would be dependent on its ability to grow organically and "restore margins in the core packaging business". "Divesting Contract Manufacturing will simplify the portfolio and sharpen our focus on driving improved returns in the remaining group. Importantly, divestment will strengthen our balance sheet and improve our financial flexibility," Sanjay Dayal said.