AGI?World and Shorewood Packaging have merged to create one of the largest box manufacturers in the world.
The new company, AGI-Shorewood, will have a little under 4,000 employees and 24 manufacturing facilities around the world, serving North America, Europe, Asia, Australia and Latin America. The deal is expected to be completed by the end of 2011.
Mike Ukropina, president of Shorewood Packaging, will lead AGI-Shorewood as president and CEO.“AGI and Shorewood are an excellent fit,” he said.
“Both companies are made up of extremely talented people who are unrivalled in customer focus and also share a deep commitment to safety and a drive for continuous improvement.”
AGI World is owned by Atlas, which will control 100 per cent of the new combined business in the US, while Shorewood parent International Paper will have a 40 per cent interest in AGI-Shorewood outside the US.
International Paper’s SVP of consumer packaging Tom Kaiden added: “By merging Shorewood with AGI, our employees and customers will have many more options and opportunities in the future.”