Packaging Corporation of America Completes Acquisition of Sacramento Container Corporation
October 02 2017 - 5:30PM
Business Wire
Packaging Corporation of America (NYSE:PKG) today announced that
it has completed its acquisition of the assets of Sacramento
Container Corporation and 100% of the membership interests of
Northern Sheets, LLC and Central California Sheets, LLC in a
cash-free, debt-free transaction. Funding for the $265 million
purchase price came from available cash on hand.
PCA Chairman and CEO Mark Kowlzan said, “Completing the
acquisition of Sacramento Container, Northern Sheets and Central
California sheets continues to further PCA’s strategic objectives.
We welcome our new employees to PCA and look forward to quickly
integrating these operations into our company.”
PCA is the fourth largest producer of containerboard and
corrugated packaging products and the third largest producer of
uncoated freesheet paper in the United States. PCA operates eight
mills and 94 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, 2016 filed with the Securities and Exchange Commission
and available at the SEC’s website at “www.sec.gov”.
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version on businesswire.com: http://www.businesswire.com/news/home/20171002006535/en/
Packaging Corporation of AmericaBarbara SessionsINVESTOR
RELATIONS: (877) 454-2509PCA’s Website: www.packagingcorp.com
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