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Sonoco to buy rival Matrix Packaging for about 210 mln usd cash


Published : Thu, 17 May 2007 13:26
By : Agencies
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LONDON (Thomson Financial) - Diversified packaging company Sonoco Products Co said it will buy privately held Canadian rival Matrix Packaging Inc for about 210 mln usd cash.

Sonoco said the acquisition, which is expected to close by the end of June, is expected to be modestly accretive in 2007 and is expected to generate

annualised sales of about 140 mln usd.

Matrix, which operates six manufacturing facilities in the US and Canada and employs about 860 workers, produces custom designed blow molded rigid plastic containers and injected molded products plastic materials.

tf.TFN-Europe_newsdesk@thomson.com

wj

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