the European Economic Community in 1957 that threatened the Smorgon’s exports with competition from European meat suppliers, Victor Smorgon diversified the company’s operations into paper production. Smorgon Consolidated Industries competed against the paper monopoly, Australian Paper Manufacturers (AMP). They added machinery to their existing Brooklyn factory and produced paper and carton materials. To compete with AMP, the Smorgons decided to start producing boxes as part of a vertical integration of their paper business. The family got into a legal dispute with APM as both businesses sought to purchase shares in the public packaging company, Fibre Containers Ltd. In 1984, Smorgon Consolidated Industries won the rights to supply 64% of Fibre Containers' paper, making the purchase of the company by AMP less desirable. The Smorgons purchased the company shares, having spent $53 million to complete this vertical integration of their paper business. In the early 1980s, Loti and Victor Smorgon began living in New York. The family used this opportunity to invest in American business and purchased a newsprint mill in Chicago. They then built a tissue plant alongside this factory. From 1988 to 1989 AMP (known as Amcor from 1986) drastically lowered box prices and raised charges for feedstock paper to capture more of the market. As a result, the Smorgon paper industry started making losses. The family decided to sell this business. Three box plants were purchased by Amcor and Richard Pratt, another market competitor, purchased two. Property The Smorgon family used capital from Smorgon Consolidated Industries to invest in property in the United States. The goal of this was to provide income for all family shareholders, giving non-working family members financial stability too. For 12 years, Victor and Loti Smorgon spent 6 months in the United States to head this operation where they invested in more than 25 properties. Victor Smorgon and friend, Ron Altman, also became limited partners in major projects with developers. Glass In 1982, David Smorgon purchased the Australian subsidiary of a Canadian packaging company, Glass Containers, which made glass and plastic packaging. This purchase put them in competition with the large company, Australian Consolidated Industries. The business secured the Smorgons 25% of the glass packaging market and 50% of the plastic bottle market. In 1989, Smorgon Consolidated Industries sold its corrugated-box plants to Amcor and the Pratt Group and its Humes plastics business to James Hardie. In November 1990, their glass containers business was