Graphic Packaging Divests Bag Equipment Manufacturing Facility
MARIETTA, Ga., May 12 /PRNewswire-FirstCall/ -- Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company (NYSE: GPK), announced today that it has closed on the sale of its Salt Lake City, Utah, multi-wall bagging equipment business. This facility specializes in the production of multi-wall bagging equipment, which is non-core to Graphic's strategy. "This divestiture is in keeping with Graphic Packaging's stated objective of optimizing its production assets following the combination with Altivity Packaging," said David W. Scheible, President and CEO. "By continuing to sharpen our focus on our core packaging business, we have been able to achieve and exceed our synergy targets ahead of schedule."
About Graphic Packaging Holding Company.
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Marietta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The company is the largest producer of folding cartons and holds a leading market position in coated-recycled boxboard and specialty bag packaging. The company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products is available on the company's web site at www.graphicpkg.com.
SOURCE Graphic Packaging Holding Company
Released May 12, 2009