Printing Industry News for Canada | RSS | 

4 December 2019
Transcontinental Selling Off Part of Packaging Division
MONTREAL—
Iowa plant part of Transcontinental's Coveris purchase
|
TC Transcontinental has signed a deal to sell its paper and woven polypropylene packaging operations to Hood Packaging Corp. for about $239 million.Under the deal, Hood Packaging will acquire paper packaging operations and buildings in Iowa, Pennsylvania and Georgia.The company will also acquire paper and woven polypropylene packaging operations in Spartanburg, S.C.,
Still Canada's largest printer
|
however Transcontinental will keep the building and continue operating at the location, which also manufactures plastic flexible packaging.About 415 employees are expected to transfer to Hood Packaging once the deal closes.The deal is expected to close in the first quarter of its 2020 .The company says it plans to use the net proceeds from the sale to reduce debt and pursue acquisitions
Post a Comment
Comments:
NEW ON THE JOB BOARD | RSS
CLICK HERE to post your job opening
LATEST USED EQUIPMENT | RSS
CLICK HERE to list your equipment
![]() |
|
![]() |
|
![]() |
Total Used Equipment Listings: 28
CLASSIFIED | RSS
CLICK HERE to list your business opportunity in the printing industry
![]() | Company for sale |
Most Recent News Comment
![]() |
|
Joe says: | |
Most Read Stories
THE PRINT WIRE
Other news from the industry