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Non-Tech : Metabolix [MBLX] a Full Disclosure Thread

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From: richardred11/30/2006 8:40:06 AM
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Sonoco Products to Buy Clear Pack
Thursday November 30, 8:36 am ET
Sonoco Products to Acquire Clear Pack to Expand Rigid Plastic Container Operations

HARTSVILLE, S.C. (AP) -- Sonoco Products Co., an industrial and consumer packaging company, Thursday said it agreed to acquire Clear Pack Co., a privately held maker of extruded plastic materials and containers, for undisclosed terms.

Clear Pack, with annual sales of about $45 million, operates a 240,000-square-foot manufacturing and warehouse facility in Franklin Park, Ill. It produces plastic containers for several consumer product and food service companies, including packaging for single-serve condiments and fresh produce.

"This strategic acquisition significantly expands Sonoco's rigid plastic capabilities," said Charles Sullivan, executive vice president, in a statement.

The transaction is expected to close in the fourth quarter, pending regulatory approval, and is expected to add slightly to earnings in 2007.

Sonoco Products has about $3.5 billion in annual sales.
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