International Paper (NYSE: IP) today announced that it has completed the transfer of its North America Consumer Packaging business to Graphic Packaging. As a result of the transaction, Graphic Packaging has assumed $660 million of IP debt. IP now holds a 20.5% ownership interest in the subsidiary of Graphic Packaging that holds the assets of the combined business. The transferred business includes approximately 3,900 employees, two coated paperboard mills and three converting facilities in the U.S., along with one converting facility in the U.K.
http://internationalpaper2015.q4web.com/news-releases/press-r/2018/International-Paper-Completes-Transfer-of-Their-North-America-Consumer-Packaging-Business-to-Graphic-Packaging/default.aspx
Related Posts
Amcor and the Alliance share the belief that collaboration and collective action are critical to eliminating plastic waste. Alliance membership also aligns with Amcor’s 2025 Sustainability Pledge to develop all its packaging to be recyclable or reusable by 2025.This new partnership is the latest example of Amcor’s commitment to better waste management and recycling infrastructure. Ron Delia, Amcor CEO, said, “Amcor’s extensive innovation capabilities are delivering packaging designed to achieve the commitment to make all our packaging recyclable or reusable by 2025. But keeping waste out of the environment also requires collaboration across the global value chain for better waste management and recycling infrastructure, and to educate consumers. AEPW serves as a crucial forum for that collaborative effort across parties aligned on the need to deliver more sustainable outcomes. I am excited that Amcor is taking up this leadership role within the Alliance and we look forward to working with the other Alliance members to advance on our shared ambitions for responsible packaging.”
Further to the announcement by Smurfit Kappa Group plc, International Paper Company confirms that it has submitted a proposal to acquire the entire issued and to be issued share capital of Smurfit Kappa. Under the terms of the Proposal, Smurfit Kappa shareholders would be entitled to receive €22.00 in cash and 0.3028 new International Paper shares of common stock for each Smurfit Kappa ordinary share held by them. In aggregate, the Proposal values Smurfit Kappa's current issued share capital at approximately €8.6 billion and would provide Smurfit Kappa shareholders with a shareholding of approximately 15 per cent. in International Paper post-completion (calculated by reference to the number of International Paper shares of common stock in issue as at 5 March 2018). Click Read More below for additional information.
Crown Holdings, Inc. announced that Gary Gavin, currently President of the Company's North American Beverage can business will be promoted to President of the Crown Americas Division, effective July 1, 2025. Mr. Gavin will report to Djalma Novaes, Jr., Executive Vice President and Chief Operating Officer, and will continue to be based in Tampa. In his new role, Mr. Gavin will oversee Crown's beverage can operations in Brazil, Colombia, Mexico, and North America, as well as its North American tinplate businesses, including food and aerosol cans and metal closures. Mr. Gavin joined Crown in January 2023 following a 29-year tenure at International Paper Company (IP), where he held progressively senior roles across sales, operations, and general management. At IP, he most recently served as Vice President & General Manager of the North American Container Division, overseeing full P&L responsibility for 56 manufacturing facilities.