Packaging Dynamics buys Papercon
August 9, 2004 By Pulp & Paper Canada
In a transaction that will cost approximately $68.4 million, Packaging Dynamics Corporation is set to buy Papercon.
In a transaction that will cost approximately $68.4 million, Packaging Dynamics Corporation is set to buy Papercon. Headquartered in Atlanta, Georgia, Papercon is a manufacturer and marketer of various paper and foil based specialty packaging products for a range of industries.
Both parties are pleased with the implications of the acquisition. “Papercon provides Packaging Dynamics with a number of strategic benefits including another well respected brand, a broader product line, an expanded customer base and a more balanced manufacturing platform,” said Frank Tannura, Packaging Dynamics chairman. Gaby Ajram, Papercon owner and president, is equally content. “We’re very excited about joining Packaging Dynamics,” he said, “I look forward to our new association as I have a great deal of respect for what they have accomplished over the past several years.
The transaction is expected to close by the end of the third quarter.
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