Chesapeake Corp. completed the sale of its corrugated
containers businesses, Chesapeake Packaging and Capitol Packaging. These former
wholly owned Chesapeake subsidiaries, which consist of 10 corrugated container
plants in seven states, become part of Inland Paperboard and Packaging, Inc., a
subsidiary of Temple-Inland Inc.
Chesapeake plans to use the proceeds of the sale to
reduce its long-term debt.
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