Nip Impressions logo
Fri, Dec 2, 2016 19:20
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
Mondi to buy Graphic Packaging unit

ATLANTA -- Graphic Packaging Holding Company today (June 3) announced that it and its wholly owned subsidiary Graphic Packaging International, Inc., have entered into a definitive agreement to sell their Multi-wall Bag business to Mondi Group.  The non-core assets to be divested include 9 Multi-wall Bag converting plants located throughout the United States and the Pine Buff, Arkansas kraft paper mill.   

"The anticipated sale of these non-core assets substantially completes our transformation into a pure play, vertically integrated paperboard packaging company," said David Scheible, Graphic Packaging's Chairman, President and Chief Executive Officer. "The divestiture will free up valuable resources which we can redirect to further accelerate global growth in our core paperboard packaging business."

The Multi-Wall Bag plants and the kraft mill had trailing twelve month revenue of approximately $437 million and under the terms of the agreement, the enterprise value is $105 million and the sale will be an all cash transaction.   The transaction is subject to standard closing requirements and is expected to close late second quarter or early third quarter 2014.


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: