International Paper (IP), Atlas Holdings to Combine Consumer Packaging Businesses
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International Paper (NYSE: IP) and Atlas Holdings today signed a definitive agreement to combine their consumer packaging solutions businesses, pending regulatory approval and other customary closing conditions. As a result of the agreement, Shorewood Packaging and AGI World will become AGI-Shorewood.
Once the transaction is complete, the new company will employ nearly 4,000 people and will operate 24 manufacturing facilities around the world.
Upon closing of the transaction, Atlas will own 100 percent of the combined AGI-Shorewood business in the U.S. and International Paper will own a 40 percent interest in the combined AGI-Shorewood business outside of the U.S. The various regional transactions are expected to close before the end of 2011.
Once the transaction is complete, the new company will employ nearly 4,000 people and will operate 24 manufacturing facilities around the world.
Upon closing of the transaction, Atlas will own 100 percent of the combined AGI-Shorewood business in the U.S. and International Paper will own a 40 percent interest in the combined AGI-Shorewood business outside of the U.S. The various regional transactions are expected to close before the end of 2011.
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