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Sonoco is looking to expand its rigid plastic-container operations with an agreement to acquire Clear Pack Company, a privately held vertically integrated manufacturer of thermoformed and extruded plastic materials and containers.
Terms of the transaction were not disclosed.
The transaction is expected to close in the fourth quarter of 2006, pending regulatory approval, and is expected to be slightly accretive to earnings in 2007.
Clear Pack has 14 high-speed, roll-fed thermoformers capable of running high-impact polystyrene (HIPS), polypropylene (PP), high- density polyethylene (HDPE) and oriented polystyrene (OPS). The company has five extrusion lines capable of extruding a variety of high-impact polystyrene and polypropylene blends. The company also has co-extrusion capabilities as well as in-line lamination for application of multilayer laminates to meet chemical resistant and barrier requirements.
Terms of the transaction were not disclosed.
The transaction is expected to close in the fourth quarter of 2006, pending regulatory approval, and is expected to be slightly accretive to earnings in 2007.
Clear Pack has 14 high-speed, roll-fed thermoformers capable of running high-impact polystyrene (HIPS), polypropylene (PP), high- density polyethylene (HDPE) and oriented polystyrene (OPS). The company has five extrusion lines capable of extruding a variety of high-impact polystyrene and polypropylene blends. The company also has co-extrusion capabilities as well as in-line lamination for application of multilayer laminates to meet chemical resistant and barrier requirements.
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