Friday 11. January 2008
Rock-Tenn Company Agrees to Acquire Southern Container Corp.
Rock-Tenn Company (NYSE:RKT) today announced that it has agreed to acquire the stock of Southern Container Corp. (“Southern Container”), a privately-held containerboard manufacturing and corrugated packaging business, for $851 million in cash. Rock-Tenn expects that Southern Container will have approximately $142 million in debt outstanding immediately after the acquisition. Southern Container operates the 720,000 ton per year Solvay mill, located near Syracuse, NY, one of the lowest cost recycled containerboard mills in North America, as well as eight integrated corrugated box plants, two sheet plants, and four high impact graphics facilities.