MONTREAL,—  Transcontinental has completed the sale of its packaging business to ProAmpac Holdings Inc. Deal announced in December of last year, worth about $2.22 billion, including debt lease obligations. Approved by share holders last month. Isabelle Marcoux, the executive chair of Transcontinental's board, says" We are excited to open a new chapter in our history, with a sharp focus on advancing the transformation of our Retail Services & Printing and Educational Publishing businesses. The new Transcontinental will be a strong Canadian company, fully committed to growing its presence in Canada." Transcontinental Printing has a network of 13 plants in Canada and some 3,500 employees. The sector offers a wide range of printing for flyers, in-store marketing products, newspapers, magazines and colour books. Even after the sale of its packaging division it will still be the largest printer in Canada with over a billion in sales.