Packaging Market Weekly Wrap - Anheuser Not Selling Packaging Division

Anheuser-Busch says it has no plans to sell its packaging business or its theme parks.

Chief Executive August Busch IV said a sale is not of benefit to shareholders.

The comments came in a conference call in which Anheuser-Busch executives detailed their cost-savings plan and explained the decision to reject InBev NV's $46.3bn bid, Reuters reports.

ALCAN TO BUILD CZECH PACKAGING PLANT

Rio Tinto's Alcan Packaging division is to build a €17m packaging facility in the Novy Bydzov area of the Czech Republic.

The new facility will produce and print packaging for the emerging Central European food market, Alcan Packaging said.

The plant should be operational by the fourth quarter of 2009.

"This investment will strengthen our position on the fast growing Central Europe market," Alcan Packaging President and Chief Executive Officer Ilene Gordon said.

"It is a new and important step in Alcan Packaging's growth strategy implementation," she added.

HICKS TO BUY GRAHAM PACKAGING

Hicks Acquisition Co says it will take Graham Packaging Holdings Co public in a deal worth $3.2bn.

A partnership with the Blackstone Group and the Graham Group has been formed to make the move.

Under the terms of the deal, current stockholders of Graham Packaging will receive $350m of cash held in trust, 35 million common shares, and 2.8 million warrants upon completion of the transaction.

WINPAK BUYS WALSRODER

Winpak has bought the film packaging business of Walsroder Packaging, a subsidiary of Dow Chemical Co.

Walsroder Packaging is a converter and distributor of flexible plastic rollstock packaging to the US food industry.

Winpak manufactures and distributes packaging materials and related packaging machines mostly used for perishable foods and in health care applications.

Financial terms of the deal were not disclosed.

LINPAC OPENS CHINESE PLANT

Linpac Packaging has opened its first plant in China, at Changzhou, in Jiangsu province.

The 20,000m² factory has two extrusion lines for production of PVC stretch film for wrapping of fresh foodstuffs and employs 60 staff.
Source: packaging-technology