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
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Christoph Wachter took over as director of the Flexible Packaging Paper division at Koehler Paper in January 2022. He succeeds Eckhard Kallies, who has had great success in positioning, developing, and implementing a long-term strategy for this new business unit as part of a three-year mandate. Having invested over 300 million euros into the new production line 8 at its Kehl production facility, Koehler Paper entered the flexible packaging growth market in 2019. With Koehler NexPlus®, Koehler is now meeting the rapidly growing demand for sustainable packaging solutions. Christoph Wachter is taking over the division at Koehler Paper during a period of strong growth. He comes from Tyrol in Austria, is married, and has two grown-up children. The 58-year-old studied business administration and brings with him 30 years of experience in specialty paper in the paper industry, where his roles have included working as a CEO with international responsibility.
Sonoco ThermoSafe one of the largest global providers of temperature assurance cold chain packaging, is expanding its Orion Rental packaging program in Europe, adding an additional reclamation service station in Brussels. The new Orion reclamation station is at CEVA Logistics in Brussels, chosen as an ideal location for its proximity to existing biopharma customers, prospects, and other western European countries. CEVA Logistics is a well-established logistics partner to 500+ healthcare and life science companies, fully compliant to GxP and ISO standards. The BRU Orion Rental Station will perform full reclamation, cleaning, and refurbishment processes necessary to return Orion boxes back into circulation in ‘like new’ quality condition, suitable for healthcare products.
Stora Enso has completed the divestment announced on 26 July 2017 of its 35% holding in the equity accounted investment Bulleh Shah Packaging (Private) Ltd. in Pakistan to the main owner Packages Ltd.
The total cash consideration for the divestment of the shares is EUR 6 million. The loss on disposal amounts in total to approximately EUR 19 million and it will be recorded as an item affecting comparability in Stora Enso’s third quarter 2017 results.
With this transaction, Packages Ltd. achieves full ownership of Bulleh Shah Packaging.