Creation of global speciality packaging solutions supplier
Atlas Holdings LLC has announced it has closed an agreement with International Paper to combine their consumer packaging businesses. The new company merges AGI World and Shorewood Packaging to create AGI-Shorewood with operations in North America, Europe, Asia and Latin America. All Shorewood Packaging locations except those in China will become part of the new company, while a separate merger agreement for Chinese locations is expected to be completed by the end of this month, subject to government licenses and registrations.
"We're pleased to complete this transaction, which is a transformational event for AGI," commented Atlas Holdings chairman, Andrew Bursky. "The merger provides AGI with expanded diversification, entrée to new and growing end markets, and significant positions in rapidly expanding regions like Asia and Latin America."