Rock-Tenn Co. has entered into a definitive agreement to sell its Plastic Packaging Division to Pactiv Corp.
James Rubright, Rock-Tenn’s chairman and CEO, said, "This sale completes our previously announced plans to explore strategic alternatives for the plastic packaging business. Pactiv Corporation is a leader in plastic packaging and we are confident that they will build on our progress in the thermoformed packaging business. This transaction will further strengthen our ability to invest in growth in our core businesses."
The transaction, valued at $60 million, is expected to close next month and is subject to normal regulatory approvals and customary conditions to closing.Latest from Recycling Today
- Equipment from the former Alton Steel to be auctioned
- Novelis resumes operations in Greensboro, Georgia
- Interchange 360 to operate alternative collection program under Washington’s RRA
- Waste Pro files brief supporting pause of FMCSA CDL eligibility rule
- Kuraray America receives APR design recognition for EVOH barrier resin
- Tire Industry Project publishes end-of-life tire management guide
- Des Moines project utilizes recycled wind turbine blades
- Charter Next Generation joins US Flexible Film Initiative
