Deals this week: Synvina, Packaging Corporation of America

13 October 2016 (Last Updated October 13th, 2016 18:30)

BASF and Avantium have formed a joint venture named Synvina with headquarters in Amsterdam, the Netherlands.

Packaging Corp

BASF and Avantium have formed a joint venture named Synvina with headquarters in Amsterdam, the Netherlands.

Synvina will produce and market furandicarboxylic acid (FDCA), which is used to create polyethylenefuranoate (PEF) for use in food and beverage packaging.

Synvina will establish itself as a key player in the sustainable bio-based packaging material and develop PEF films for food packaging, electronics applications, industrial and medical packages.

Packaging Corporation of America (PCA) will acquire all of Columbus Container's assets for $100m in an all-cash transaction.

The deal is on a debt-and-cash-free basis and is expected to be completed in the fourth quarter of 2016.

As part of the deal, PCA will acquire Columbus Container’s full-line corrugated products facility in Columbus, Indiana, US, as well as five warehousing facilities and other related operations.

PCA is a manufacturer of containerboard and corrugated packaging products, while Columbus Container is a provider of corrugated products.


Image: Packaging Corporation of America is an American producer of containerboard and corrugated packaging products. Photo: courtesy of Richard Wheeler.