Linda Casey

January 29, 2014

3 Min Read
PACKAGING BRIEFS Tuesday, May 31

 

RockTenn completes acquisition of Smurfit-Stone
RockTenn has completed its acquisition of Smurfit-Stone. Pursuant to the agreement and plan of merger, each outstanding share of Smurfit-Stone common stock (other than dissenting shares), has been converted into the right to receive $17.50 in cash and 0.30605 of a share of RockTenn class A common stock. Pursuant to the Agreement and Plan of Merger, Timothy J. Bernlohr, Terrell K. Crews, and Ralph F. Hake have joined the RockTenn board of directors from the Smurfit-Stone board of directors, increasing the number of directors from 10 to 13. In conjunction with the acquisition of Smurfit-Stone, RockTenn closed on $4.3 billion of debt financing, consisting of a $1.475 billion, 5-year revolving credit facility; a $1.475 billion, 5-year term loan facility; a $750 million, 7-year term loan facility and a $625 million, 3-year accounts receivable securitization facility. The borrowings under the new debt facilities were used in part to finance the merger, to repay outstanding indebtedness of Smurfit-Stone, to refinance RockTenn's existing credit facilities, to pay for fees and expenses incurred in connection with the acquisition of Smurfit-Stone and to provide liquidity for general corporate purposes of approximately $1 billion.

 
FTA names youngest inductee to its Hall of Fame
The Flexographic Technical Assn. has named Mark Samworth, color consultant at EskoArtwork, the 49th and youngest inductee into Flexographic Technical Association's esteemed Hall of Fame. A recognized innovator in the flexographic industry, Samworth's expertise in color science and understanding of technology led to his developing 10 issued patents, with more pending. Samworth's inventions include FlexoCal, hybrid screening, plate cell patterning, concentric screening, Equinox 7c process color and Press Sync.

 

Ball Packaging Europe names new vp of sales and marketing
Thomas Haensch is the new vp of sales & marketing at Ball Packaging Europe. He replaces Rob Miles, who had moved to the U.S. parent company to serve as vp of sales for North American beverage packaging. Haensch experience includes roles with large consumer goods manufacturers, including Gillette, Wella Professional, Sebastian Inc. and Procter & Gamble.

 

Follow Possible Package Printing Forum educates packaging professionals on trends
Consumer product packaging brand owners, designers, production specialists and procurement professionals learned about the advantages digital production solutions offer at the Follow Possible Package Printing Forum held April 27, 2011, and presented by Hamilton, OH-based Innovative Labeling Solutions and sponsored by HP. Key topics covered at the event included the benefits of multi-SKU and versioned digital production, brand color management, and building brand loyalty

 

Harper College seeks ACCGC accreditation
The Accrediting Council for Collegiate Graphic Communications, Inc. (ACCGC) will conduct an accreditation review of the Associate of Applied Science (AAS) degree in Graphic Arts Technology at Harper College, Palatine, IL.

 

Stora Enso invests in nanotechnology for packaging materials
Stora Enso invests in renewable materials innovation with plans to build a pre-commercial plant at Imatra in Finland for the production of microfibrillated cellulose. The new type of renewable material has potential for use in fiber-based paper and board products and barrier materials. The microfibrillated cellulose technology project, including the Imatra pre-commercial plant, is estimated to total approximately EUR 10 million. The plant is scheduled to start production by the end of 2011.


BASF, INEOS sign joint venture contract for Styrolution
BASF SE and INEOS Industries Holdings Ltd move toward establishing a joint venture plan that combines their global business activities in styrene monomers (SM), PS, acrylonitrile butadiene styrene (ABS), styrene-butadiene block copolymers (SBC) and other styrene-based copolymers (SAN, AMSAN, ASA, MABS) as well as copolymer blends into the new joint venture called Styrolution. BASF and INEOS will retain their respective businesses, and Styrolution will not include expandable PS business.

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