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January 29, 2014
2 Min Read
HLP Packaging Acquires Klearfold From MeadWestvaco
HLP Packaging is now HLP Klearfold. The North American affiliate of Hip Lik Packaging Products (Hong Kong), the world's largest and most experienced producer of plastic folding cartons, has a new corporate identity following acquisition of the Klearfold trademark from MeadWestvaco Corporation (MWV). Underscoring the company's rebranding is the addition of two key executives from MWV's former Klearfold business to the HLP Klearfold North American management team: Steve Frazier, Vice President, North America, and Pat McGee, Director of Marketing. Steve ran Klearfold's North American operations and later became AGI/Klearfold General Manager, while Pat was responsible for marketing of the Klearfold brand for nearly 10 years.
BWAY Holding Company to be acquired by Madison Dearborn Partners
BWAY Holding Company announced it has entered into an agreement to be acquired by a company organized by Madison Dearborn Partners, LLC ("MDP") in a transaction with a total value of approximately $915 million, including the assumption of debt. Under the agreement, BWAY shareholders will receive $20.00 cash for each share of BWAY common stock they own, representing a premium, based on the closing price on March 26, 2010, of approximately 25% percent over the 30 day average closing trading price and 16% over the 90 day average closing trading price.
Alcoa dedicates expanded recycling operations
Alcoa has dedicated a $24 million expansion of aluminum can recycling capacity at the Company’s Tennessee Operations which will increase recycling capability by nearly 50 percent and help secure more than 100 jobs at the facility. The new Tennessee Operations Can Reclamation facility includes a new crusher and delacquering furnace and supporting building enclosures, utilities and environmental systems. These improvements will help increase capacity using state-of-the-art environmental and fuel-efficient technology as well as support future flexibility to process other scrap types.
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