![]() Such information includes, without limitation, discussions as to estimates, expectations, beliefs, plans, strategies and objectives concerning the company's future financial and operating performance. Such forward-looking statements are based on current expectations, estimates and projections about the company's industry, management's beliefs and certain assumptions made by management. Statements included herein that are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Sonoco, which is celebrating its 100th anniversary, is a $2.6 billion manufacturer and provider of industrial and consumer packaging products and services, with approximately 275 operations in 32 countries serving customers in some 85 nations. "We believe Sonoco's 66 years of experience in Canada, proven success in the North American flexible packaging market, technological leadership with similar material sciences in our high density film and capseals businesses, as well as composite cans, position us well to maximize the value of these new flexible operations," Browning added. ![]() Sonoco is the global leader in composite cans of the consumer segment and in tubes and cores of the industrial sector. "We are pleased to be increasing our exposure in the consumer segment of the packaging industry, which is about equal to our industrial business," stated Mr. Sonoco has existing flexible facilities in Morristown, Tennessee Edinburgh, Indiana and Fulton, New York. ![]() Sonoco is acquiring flexible manufacturing locations from Graphic in Vancouver, British Columbia Winnipeg, Manitoba Toronto, Ontario Terrebonne, Quebec Franklin, Ohio and Charlotte, North Carolina. We believe the flexible sector is particularly effective at leveraging Sonoco's strengths in global account management, complements our composite can consumer customer base, and utilizes our composite can and high density film technologies and material science expertise," "said Mr. "This acquisition adds significant new and expanded North American capabilities in flexible packaging, a packaging sector that enjoys growth rates in excess of the GDP. Graphic Packaging's and Sonoco's flexible businesses had 1998 sales of approximately $120 million each. The acquisition will double Sonoco's presence in the flexible packaging business, the fastest growing segment of the packaging industry. Sonoco expects the acquisition to be earnings neutral for the first year. The all-cash purchase was for approximately $105 million. Browning, Sonoco's president and chief executive officer. (NYSE: ACX), Golden, Colorado, according to Peter C. 3 /PRNewswire/ - Sonoco (NYSE: SON), the global packaging company, completed the previously announced purchase of the flexible packaging division of Graphic Packaging Corporation, a wholly owned subsidiary of ACX Technologies, Inc.
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