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Packaging company Sonoco and Ahlstrom have reached an agreement under which Sonoco will acquire Ahlstrom's 35.5 percent interest in Sonoco-Alcore—a joint venture formed in 2004 when the two companies combined their European tube, core and coreboard operations.
The transaction which increases Sonoco's ownership in the operations from 64.5 to 100 percent, is expected to be completed in the third quarter of 2006.
“We expect that the purchase will be slightly accretive, gradually building up Sonoco's earnings in the fourth quarter of this year," says Harris DeLoach Jr, chairman, president and CEO.
The transaction which increases Sonoco's ownership in the operations from 64.5 to 100 percent, is expected to be completed in the third quarter of 2006.
“We expect that the purchase will be slightly accretive, gradually building up Sonoco's earnings in the fourth quarter of this year," says Harris DeLoach Jr, chairman, president and CEO.
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