Atlantic Packaging to Acquire Three Paperboard Converting Plants from IP

The acquired facilities convert (sheet and rewind) bleached paperboard.

Sept. 12, 2014 - Atlantic Packaging announced today a definitive agreement to purchase International Paper's three largest paperboard converting facilities in Greensboro, North Carolina, Hazleton, Pennsylvania, and Sturgis, Michigan.

"This is a real game changer for our family company," said Rusty Carter, Atlantic President. "Overnight this gives us a major presence for all of our business segments in the Southeast, Northeast, Midwest, and soon the Southwest, with a planned new facility in Dallas, giving us full a national footprint.

"We enthusiastically welcome the IP employees to Atlantic and look forward to the many opportunities ahead for all of us. It is an honor for us to be working so closely now with our long time supplier IP," Carter added.

The acquired facilities convert (sheet and rewind) bleached paperboard produced primarily at IP mills in Riegelwood, North Carolina; Augusta, Georgia; and Texarkana, Texas. The sheeting plants serve as finishing departments and distribution centers for national product coverage.

Greg Gibson, Vice President and general manager of coated paperboard for International Paper said, "Atlantic Packaging is a leading paperboard converter with a great reputation for quality and service. This transaction offers considerable marketplace advantages for both companies.

"International Paper gains significant supply chain flexibility to support our Carolina® and Everest® brands and job opportunities for our employees in three facilities," Gibson said.

Upon completion of the deal, Atlantic will employ over 900 people and will be the largest converter of bleached paperboard in North America.

Atlantic has 12 branch locations across the Southeast U.S., Dominican Republic and Central America and currently employs 750 people. To learn more, please visit: www.atlanticpkg.com.

SOURCE: Atlantic Corporation