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آرشیو برچسب های: Michigan

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SPG completes acquisition of complete packaging

منتشرشده در by Maxwell
20
آبان

Specialized Packaging Group (SPG), a leading, vertically integrated provider of protective packaging products, today announced the acquisition of Monroe, Michigan-based Complete Packaging (Complete), a portfolio company of the Spell Family Office. Complete provides custom-designed packaging solutions for a diverse array of end markets, including automotive, heavy truck, energy, aerospace, defense, heavy equipment, and general industrial.

SPG, one of the largest independent protective packaging manufacturers in North America, is a portfolio company of Altamont Capital Partners. The acquisition will enhance SPG’s existing capability set by expanding the company’s engineered packaging offerings and geographic reach while adding approximately 90 employees to its 1,600-person workforce. Complete’s leadership and full workforce will continue to operate in their current locations in Detroit and Monroe, Michigan.

 

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Graphic Packaging to permanently decommission CRB machine at its Kalamazoo mill

منتشرشده در by Maxwell
16
مهر

Graphic Packaging Holding Company, a leading consumer packaging company, announced it will permanently decommission the K3 coated recycled paperboard (CRB) machine in Kalamazoo, Michigan. The K3 machine is one of three CRB machines at the Kalamazoo facility and is the company’s longest-running machine. K3 ceased operation on July 1 and today’s announcement reflects the decision to permanently shut down the 125,000-tons per annum machine.

Removing higher-cost, less efficient production capacity is part of Graphic Packaging’s CRB optimization plan first announced in 2019 alongside the transformational investment in a new, state-of-the-art K2 CRB machine. Permanently decommissioning the older machine is the company’s next step of network optimization. With K2 reaching expected quality, cost improvement and volume commitments ahead of schedule, the permanent decommissioning of K3 supports more efficient resource use and margin enhancement goals for the CRB network, while continuing to service increased customer demand for high quality coated recycled paperboard.

The machine decommission is not expected to have any impact on the company’s 2023 projected Adjusted EBITDA of $1.9 billion, the midpoint of the previously provided guidance range.

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