US-based KapStone Paper and Packaging has completed the acquisition of US Corrugated in a deal worth $330m in order to increase its exposure to the containerboard market.
The acquisition includes a 240,000t recycled containerboard paper mill in Cowpens, South Carolina, and 14 of the 20 converting facilities in the eastern and mid-western US.
The agreement allows USC to sell the remaining six facilities prior to closing the deal.
Roger Stone, KapStone chairman and CEO, said since USC was a net purchaser of 195,000t of containboard, the risk of costly economic downtime would be lessened throughout the economic cycle.
