Gibraltar Packaging Group is being sued by an investor attempting to halt its sale to Canadian rival Rosmar Packaging Group.
Gibraltar announced the merger two weeks ago.
However, investor Enduro Capital has sued the firm seeking unspecified damages.
It says Gibraltar should seek a higher bid than the US$4.25 a share offered by Rosmar.
"The proxy statement does not indicate that any other potential buyers were contacted or that anything else was done by Gibraltar's board to maximise value," Enduro's lawyers say.
Gibraltar and Rosmar have not commented on the case.
RWANDA MOVES TO IMPROVE PRODUCTION
Rwanda's' Investment and Export Promotion Agency (RIEPA) deputy general Claire Akamanzi says a private consultancy firm has been hired to carry out a market survey on packaging needs in the country in an attempt to improve the quality of products produced in Rwanda.
"It is against the findings of the survey that we will act upon to attract investors in this sector," she says.
Rwanda currently imports about 90 percent of packaging material.
Because of the high costs, final consumers in the country are paying more for products.
A senior government official is optimistic that once Rwanda gets a packaging industry, most commodities in the country will become cheaper, allafrica.com reports.
AMCOR INVESTS €25M IN POLAND
Amcor has announced a €25m investment in a new manufacturing site in Poland.
The company says the expansion is part of its Central and Eastern Europe growth strategy.
Amcor says it expects to move to the new site by 2010.
HENKEL COMPLETES £2.7M ACQUISITION
German firm Henkel has completed the acquisition of US-based National Starch and Chemical Company's adhesive and electronic material business for £2.7bn.
The move will strengthen Henkel's position in the industrial adhesives market.
Henkel says the acquisition will increase sales to £5.94bn.
Henkel has been in business for more than 130 years and operates in the home care, personal care and adhesive technologies sectors.
GERMAN CARDBOARD SECTOR TO INCREASE 4.5 PERCENT
German corrugated cardboard manufacturers' association Verband der Wellpappen-Industrie (VDW), says sales in the sector will increase 4.5 percent in 2008.
VDW says the industry has benefited from the stability of the domestic economy.
Last year VDW's member's profits grew by 14 percent.
On 31 March 2008, following a thorough due diligence process, the approval by the German Federal Cartel Office and an intensive period of negotiations.
BOBST BUY FISCHER & KRECKE
Bobst Group has completed the €5.5m acquisition of Germany firm Fischer & Krecke.
Bobst made the acquisition in order to expand its operations in the flexible materials market and to strengthen its presence in the flexographic printing area.
Source: packaging-technology
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment