- January 04, 2012
STAMFORD, CT | Atlas Holdings has announced the closing of its agreement with International Paper to combine their consumer-packaging solutions businesses. As a result, AGI World and Shorewood Packaging have become AGI-Shorewood, said to be one of the largest and most innovative global specialty packaging businesses with operations in North America, Europe, Asia, and Latin America. All locations of Shorewood Packaging except those in China are now a part of the new AGI-Shorewood. Closing of the Chinese portion of the transaction will occur later this month.
“Atlas Holdings Chairman Andrew Bursky says, “The merger provides AGI with expanded diversification, entrée to new and growing end markets, and significant positions in rapidly expanding regions like Asia and Latin America. We are now exceptionally positioned to serve both regional and international consumer packaged-goods, entertainment, and tobacco companies on a truly global basis.”
Mike Ukropina, who served as president of Shorewood Packaging until his appointment as president and CEO of AGI-Shorewood, will head the new company. His executive team includes Mark Caines as CEO of AGI-Shorewood North America; Tony Garnish as CEO of AGI-Shorewood Europe; Lucy Tzou as CEO of AGI-Shorewood Global Gravure and Asia; and Don Eldert as executive VP and CFO of AGI-Shorewood.