Pactiv Evergreen Inc. has completed its Suzano_to_acquire_Pine_Bluff_paper_mill_and_Waynesville_extrusion_facility_in_USA_114058/">previously announced sale of the Pine Bluff, Arkansas, paper mill and Waynesville, North Carolina, extrusion facility to Suzano S.A.
“The closing of this transaction marks an important milestone as we focus on our core North American converting operations,” said Michael King, President and CEO of Pactiv Evergreen. “I want to thank the employees at Pine Bluff and Waynesville for their years of dedication and commitment to Pactiv Evergreen and to our customers. In addition to facilitating our transition to a capital light business model, we expect the transaction to improve our profitability and cash flows and strengthen our balance sheet.”
The sale proceeds are $110 million,subject to customary adjustments for closing amounts such as working capital.
Suzano is the world's largest pulp producer.
Pactiv Evergreen Inc. is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America.
