Packaging Corporation of America Completes Acquisition of Columbus Container, Inc.
November 30 2016 - 5:00PM
Business Wire
Packaging Corporation of America (NYSE:PKG) today announced that
it has completed its acquisition of Columbus Container, Inc., an
independent corrugated products producer in a cash-free, debt-free
transaction. Funding for the $100 million acquisition came from
available cash on hand.
PCA Chairman and CEO Mark Kowlzan said, “Completing the
acquisition of Columbus Container is another excellent strategic
fit for PCA and we expect to quickly integrate this great
organization into our company.”
PCA is the fourth largest producer of containerboard and
corrugated packaging products in the United States and the third
largest producer of uncoated freesheet paper in North America. PCA
operates eight mills and 95 corrugated products plants and related
facilities.
Some of the statements in this press release are forward-looking
statements. Forward-looking statements include statements about
expected benefits from the acquisition, our future earnings and
financial condition, our industry and our business strategy.
Statements that contain words such as “ will”, “should”,
“anticipate”, “believe”, “expect”, “intend”, “estimate”, “hope” or
similar expressions, are forward-looking statements. These
forward-looking statements are based on the current expectations of
PCA. Because forward-looking statements involve inherent risks and
uncertainties, the plans, actions and actual results of PCA could
differ materially. Among the factors that could cause plans,
actions and results to differ materially from PCA’s current
expectations include the following: the impact of general economic
conditions; conditions in the paper and packaging industries,
including competition, product demand and product pricing;
fluctuations in costs; the possibility of unplanned outages or
interruptions at our principal facilities; and legislative or
regulatory requirements, particularly concerning environmental and
tax matters, as well as those identified under Item 1A. Risk
Factors in PCA’s Annual Report on Form 10-K for the year ended
December 31, 2015 filed with the Securities and Exchange Commission
and available at the SEC’s website at “www.sec.gov”.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161130006279/en/
Packaging Corporation of AmericaBarbara SessionsINVESTOR
RELATIONS: (877) 454-2509PCA’s Website: www.packagingcorp.com
Packaging (NYSE:PKG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Packaging (NYSE:PKG)
Historical Stock Chart
From Sep 2023 to Sep 2024