Nip Impressions logo
Thu, Mar 28, 2024 07:05
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
DS Smith to buy 80 percent of U.S. packaging firm Interstate Resources for $920 million

LONDON (From news reports) -- DS Smith Plc, a British maker of corrugated cardboard, recycled paper and plastic packaging, said it had agreed to buy 80 percent of Interstate Resources, a U.S. corrugated packaging business, from Merpas Co for $920 million (£709 million).

DS Smith, which has the option to buy the remaining 20 percent over five years, will take on $226 million of the family-owned business' debt.

The deal will immediately add to DS Smith's earnings, giving it an entry into the American market.

DS Smith, which makes corrugated trays, soft plastic containers, transport packaging and display cases, also said it would fund part of the acquisition by raising about 285 million pounds through an underwritten placing of new shares at 10 pence each.

****

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: