Pactiv Sells Single-Faced Corrugated Business

LAKE FOREST, IL, USA—Pactiv Corp. announced today the sale of its single-faced corrugated Netherland-based business to Palm Industrie Beteiligungs GmbH Co. KG. The single-faced corrugated business had sales of approximately $20 million in 2000, and, reports the co., the sale of this business is another step in the restructuring of its protective and flexible packaging segment that was announced in January 2001.

"We are pleased with the progress we're making with the restructuring…," says Richard Wambold, Pactiv's chair and CEO. "At this point, we have completed about half of our improvement effort. As the industry recovers and volumes improve, we are confident this segment will meet its financial goals."

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