MeadWestvaco Corp. has completed the previously announced sale of its Stevenson, Ala., corrugating medium mill and related assets to Smurfit-Stone Container Corp. for about $375 million. The other assets include seven container plants located in the South and Midwest, 82,000 acres of timberland, a hardwood sawmill and related working capital assets.
Meanwhile, Caraustar Industries completed the purchase of the industrial packaging operations at Smurfit-Stone Container Corp. The acquisition includes 17 tube and core manufacturing facilities, three fiber plants, and three uncoatred recycled boxboard mill operation.
The purchase price of the Caraustar acquisition is around $80 million.