Sonoco Recycling Acquires American Recycling of Western North Carolina

Sonoco Recycling, a unit of Sonoco (NYSE: SON), one of the largest sustainable global packaging companies, today announced it has acquired American Recycling of Western North Carolina, a privately owned recovered paper recycler located in Asheville, N.C.

American Recycling of Western North Carolina is a privately owned business that processes approximately 30,000 tons of recovered fiber annually at its well-capitalized Asheville material recovery facility. The business expects to generate approximately $9 million in sales in 2021 and it is strategically located approximately 65 miles from Sonoco’s Newport, TN, uncoated recycled paperboard mill.

“This acquisition provides Sonoco’s mill operations with a stable, lower-cost supply of recovered fiber with the opportunity to grow volumes in the region,” said Palace Stepps, Division Vice President and General Manager of Sonoco Recycling.

A top 10 recycler in the U.S., Sonoco Recycling annually collects approximately 2.8 million tons of old corrugated containers, mixed paper, metals and plastics through its five material recovery facilities and 20 recycling centers serving more than 100 communities in which curbside-collected residential and commercial materials are processed.
https://investor.sonoco.com/news-releases/news-release-details/sonoco-recycling-acquires-american-recycling-western-north

Related Posts

Graphic Packaging Holding Company to Acquire AR Packaging from CVC Funds for $1.45 Billion in Cash

Graphic Packaging Holding Company and CVC Capital Partners Fund VI announced a definitive agreement under which Graphic Packaging will acquire AR Packaging Group AB, Europe's second largest producer of fiber-based consumer packaging, for approximately $1.45 billion in cash, subject to customary adjustments. The combination enhances Graphic Packaging's global scale, innovation capabilities, and value proposition for customers throughout Europe and bordering regions. With a broad set of industry-leading packaging solutions, design expertise, and expanded geographic reach, the combined company will be uniquely positioned to capture continued organic growth opportunities across existing and new global customers and markets. The proposed acquisition of AR Packaging is expected to add $1.1 billion in annual sales and $160 million in annual Adjusted EBITDA.

Silgan Announces Second Quarter Earnings; Confirms Full Year Estimate

Net sales for the second quarter of 2017 were $1,021.8 million, an increase of $147.2 million, or 16.8 percent, as compared to $874.6 million in 2016. This increase was the result of the acquisition of Dispensing Systems in April 2017 and higher net sales across all of the businesses. Income from operations for the second quarter of 2017 was $75.2 million, an increase of $7.5 million, or 11.1 percent, as compared to $67.7 million for the second quarter of 2016, while operating margin decreased to 7.4 percent from 7.7 percent for the same periods. The increase in income from operations was the result of the net benefit from the acquisition of Dispensing Systems and higher income from operations in each of the businesses. The decrease in operating margin was due primarily to the negative impact from the purchase accounting write-up of inventory of Dispensing Systems and acquisition related costs in the quarter. Rationalization charges were $3.0 million and $5.0 million in the second quarters of 2017 and 2016, respectively. Click Read More below for additional details.

Mayr-Melnhof Karton acquires Kotkamills

The Mayr-Melnhof Group has reached an agreement to acquire Kotkamills Group Oyj from the previous owners for an enterprise value of around EUR 425 million; this corresponds to approximately 7.8 times the EBITDA of the last twelve months. With the takeover of Kotkamills, MM Karton will expand its position in the attractive market for virgin fiber board (FBB) and Food Service Board (FSB) and complement its established market position in recycled cardboard. The planned transaction will have an immediate impact on earnings. Kotkamills operates two cardboard/paper machines at the integrated location in Kotka (southern Finland): one FBB / FSB cardboard machine, which was commissioned in 2016 after an investment of more than 180 million EUR, with a current sales volume of around 260,000 t and one planned capacity of 400,000 t; a machine for Saturated Kraft Paper / impregnation paper with a capacity of 170,000 t, which makes the company one of the world's leading suppliers. Kotkamills employs around 500 people and in the last twelve months achieved an EBITDA of around EUR 55 million on sales of around EUR 380 million.
Back To Top
×Close search
Search