Nip Impressions logo
Mon, Aug 21, 2017 19:34
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Items just for you
New publication added! Advertising Arguments 2015 book
Search
My Profile
Login
Logout
Management Side
Technical Side
DS Smith to acquire Interstate Resources, Inc.

ARLINGTON, Va. -- DS Smith announced that it has entered into a conditional agreement to acquire 80 percent of the shares of Interstate Management Resources, Inc. (Interstate) from Indevco.

Interstate is a family-owned integrated packaging and paper producer concentrated on the East Coast of the United States, operating from 19 production sites and having approximately 1,500 employees. Interstate operates across the entire packaging chain including wood procurement, paper manufacturing, design, packaging manufacturing and customer logistics.

DS Smith believes that the acquisition represents a compelling and attractive opportunity for DS Smith to expand its international fibre-based packaging footprint in the US market with a well-established, high quality and reputable independent group with an experienced management team. The acquisition also provides a clear opportunity for DS Smith to further differentiate itself with customers and provides security and cost benefits in relation to fibre and paper supply.

DS Smith plans to build upon Interstate's well-invested operational asset base, technology and distribution network in the Eastern United States to support Interstate's existing customers and DS Smith's multi-national customers, many of whom have operations in the US, enhance DS Smith's customer relationships, increase DS Smith's global brand exposure and provide a long term growth opportunity. DS Smith will draw upon its experience in previous integrations to realise the combined strength of Interstate and DS Smith.

Commenting on the acquisition, DS Smith's Group Chief Executive, Miles Roberts, said:

"We are delighted to announce the proposed acquisition of Interstate, a well-positioned and attractive entry point for us into the US market. We have seen significant customer pull for our innovative packaging solutions in the US and are excited by the opportunity to grow and support our customers' needs over this large and growing market. It is a further important step in our strategy, further building a higher quality, higher margin group with more growth potential. We very much look forward to working with all the employees, customers and suppliers of Interstate."

The acquisition is conditional on, inter alia, DS Smith shareholder and anti-trust approvals and is expected to complete in the third quarter of 2017.

****

Jim Thompson is back again...with a new book on a taboo subject: the personalities in the pulp & paper industry. Jim has written in the past on many subjects based on his four plus decades in the worldwide pulp and paper industry. This new book is packed full of information valuable to the senior member of the industry as well as the recent entrant. A must for every pulp and paper library.


Printer-friendly format





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: