Pactiv Corp have agreed to purchase the plastic packaging assets of Rock-Tenn for $60 million. The sale is scheduled to be completed during October 2003, pending regulatory approvals.
The packaging business of Rock-Tenn incorporates the manufacturing of amorphous polyethylene terephthalate and polypropylene for food packaging. Two manufacturing facilities are involved in the transaction. They are located in Georgia and Illinois, USA.
The acquisition adds further capacity to Pactiv’s amorphous polyethylene terephthalate and polypropylene capabilities after their recent purchase of Winkler Forming.
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