Caraustar Industries, Inc. completed the acquisition of Arrow Paper Products company of Saginaw, Michigan. Arrow operates two tube and core converting facilities that serve customers in the automotive, film, housewares and other specialty tube and core markets.
Arrow Paper Products had revenues of approximately $5.4 million for the year. According to Jim Russell, vice president of Caraustar's Industrial & Consumer Products Group, ``The acquisition of Arrow Paper Products fits strategically with Caraustar's long-term growth plans. Arrow expands our current customer base, strengthens our position to better service existing customers and provides important geographical expansion for our tube and core business.''
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