HARTSVILLE, SC-Sonoco today announced that it has completed the acquisition of Weidenhammer Packaging Group (WPG), Europe's leading provider of composite cans along with composite drums and rigid plastic containers, for EURO286 million, or approximately $360 million, in cash.Read more
GREEN BAY, WI-Green Bay Packaging Inc. acquires Great Lakes Packaging Corp. and Midland Container Corp. from MidCon Holdings, LLC, an Arbor Investment Company. The acquisition is effective October 31, 2014 and terms of the deal were not disclosed.Read more
NORCROSS, GA-RockTenn Merchandising Displays received 27 Design of the Times Awards at this year's Shopper Marketing Expo.
"This industry recognition of our innovation and creativity on behalf of our customers is simply phenomenal," said Craig Gunckel, RockTenn's executive vice president of merchandising display and folding carton. "It substantiates our unique ability to provide our customers the most outstanding end-to-end products and services available."Read more
HANOVER, PA-OX Industries has purchased a high speed paper tube winding line with the latest technology multi-knife cutting system. The state-of-the-art equipment will be used for the OX converting expansion at its plant in Charleston, IL. Eberle SA, based in Reichstett, France, will supply the complete production line equipped with a Victoria Evolution multi-knife cutting system.
"Eberle SA has been a strategic partner with OX for many years and we are excited to include them in our Charleston facility expansion," Said Kevin Hayward, President of OX Industries.Read more
Earnings from continuing operations of $0.60 per share, $0.63 ex-items vs. $0.37 on the same basis in the prior year
Sales of nearly $1.5 billion were up 7% from gains across targeted packaging and specialty chemicals markets
EBITDA ex-items of $285 million increased 20% driven by strong improvement across all packaging segments
Some 105 jobs will be affected, the company said in a statement. "The proposal will require a managed run down of production that will complete early next year," the firm said.
The proposed closure follows an unsuccessful search for a buyer, a spokesperson from the company toldRISI.Read more