Boise Inc. : Completes Hexacomb Acquisition
12/01/2011| 05:03pm US/Eastern
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BOISE, Idaho - Boise Inc. (NYSE: BZ) today announced
that it had completed the acquisition of the Hexacomb
protective packaging business of Pregis Corporation. Hexacomb
is a leader in kraft-paper-based honeycomb protective
packaging and operates twelve manufacturing facilities across
six countries.
"We are pleased to complete this acquisition and
welcome Hexacomb employees to Boise," said Alexander
Toeldte, president and chief executive officer of Boise Inc.
"Hexacomb expands our position in the protective
packaging market, provides a platform for further growth,
steps up our vertical integration within our containerboard
business, and delivers synergies with limited execution
risk."
In 2010, Hexacomb had revenues of $102 million and
converted approximately 60,000 tons of containerboard. The
$125 million transaction was financed through cash on
hand.
About Boise Inc.
Headquartered in Boise, Idaho, Boise Inc. (NYSE: BZ)
manufactures a wide variety of paper and packaging products.
Boise's paper products include imaging papers for the
office and home, printing and converting papers, and papers
used in packaging, such as label and release and flexible
packaging papers. Boise's range of packaging products
includes linerboard and corrugating medium, corrugated
containers and sheets, and protective packaging products. Our
employees are committed to delivering excellent value while
managing our businesses to sustain environmental resources
for future generations. Visit our website at
www.BoiseInc.com.
Forward-Looking Statements
This news release contains statements that are
"forward looking" as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include, without limitation, any statement that
may predict, forecast, indicate, or imply future results,
performance, or achievements. Forward-looking statements in
this release include those regarding the expected benefits of
the Hexacomb acquisition. These statements involve risks and
uncertainties, including some that are outside our control.
Our ability to integrate the Hexacomb operations with our
own, reactions by customers, suppliers, employees, or
competitors, and general economic, competitive, and
regulatory factors may cause actual results to differ
materially from those expressed in the forward-looking
statements. For further information about the risks and
uncertainties associated with our business, please refer to
our filings with the Securities and Exchange Commission. The
company does not intend, and undertakes no obligation, to
update any forward-looking statements.
SOURCE: Boise Inc.
Jason Bowman
Director, Investor Relations
208-384-7456
Karen Punch
Manager, Communications
208-384-7037
http://www.boiseinc com/
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