Boise Inc. Completes Hexacomb Acquisition
BOISE, Idaho - Boise Inc. (NYSE: BZ) today announced that it had completed the acquisition of the Hexacomb protective packaging business of Pregis Corporation. Hexacomb is a leader in kraft-paper-based honeycomb protective packaging and operates twelve manufacturing facilities across six countries.
"We are pleased to complete this acquisition and welcome Hexacomb employees to Boise," said Alexander Toeldte, president and chief executive officer of Boise Inc. "Hexacomb expands our position in the protective packaging market, provides a platform for further growth, steps up our vertical integration within our containerboard business, and delivers synergies with limited execution risk."
In 2010, Hexacomb had revenues of $102 million and converted approximately 60,000 tons of containerboard. The $125 million transaction was financed through cash on hand.
About Boise Inc.
Headquartered in Boise, Idaho, Boise Inc. (NYSE: BZ) manufactures a wide variety of paper and packaging products. Boise's paper products include imaging papers for the office and home, printing and converting papers, and papers used in packaging, such as label and release and flexible packaging papers. Boise's range of packaging products includes linerboard and corrugating medium, corrugated containers and sheets, and protective packaging products. Our employees are committed to delivering excellent value while managing our businesses to sustain environmental resources for future generations. Visit our website at www.BoiseInc.com.
Forward-Looking Statements
This news release contains statements that are "forward looking" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements. Forward-looking statements in this release include those regarding the expected benefits of the Hexacomb acquisition. These statements involve risks and uncertainties, including some that are outside our control. Our ability to integrate the Hexacomb operations with our own, reactions by customers, suppliers, employees, or competitors, and general economic, competitive, and regulatory factors may cause actual results to differ materially from those expressed in the forward-looking statements. For further information about the risks and uncertainties associated with our business, please refer to our filings with the Securities and Exchange Commission. The company does not intend, and undertakes no obligation, to update any forward-looking statements.
SOURCE: Boise Inc.
Jason Bowman
Director, Investor Relations
208-384-7456
Karen Punch
Manager, Communications
208-384-7037
http://www.boiseinc com/
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Source: Boise Paper Holdings LLC via Thomson Reuters ONE
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