TimBar and PCA Enter Agreement
July 6, 2016 11:05 AM
TimBar Packaging & Display has entered into an agreement to be acquired by Packaging Corporation of America. The transaction is expected to close by the end of August 2016.
“Culturally, the two companies are very similar with both being driven by customer needs and putting high value on employees”, stated Matthew Heleva, President/CEO for TimBar. He added, “As a result of this transaction, TimBar’s client base will have access to a broader scope of products and geographic service area supported by a strong mill system. It will also provide more advancement opportunities for TimBar employees”.
TimBar Packaging & Display, founded in 1955, is a designer and manufacturer of corrugated shipping containers, protective inserts, retail packaging and point of purchase displays. The company employs roughly 900 people and has five manufacturing locations including two corrugator plants. In addition, the company operates two fulfillment centers and three sales/design offices.
Chicago-area based Packaging Corporation of America is the fourth largest producer of containerboard and corrugated packaging products in the United States operating eight mills and 97 corrugated products plants and related facilities. PCA is also the third largest producer of uncoated free sheet paper in North America. Paper products include imaging papers for the office and home, printing and converting papers and papers used in packaging.
For more information, visit http://ir.packagingcorp.com/phoenix.zhtml?c=113281&p=irol-newsArticle&ID=2182289