BWAY Corporation Acquires Assets of Vulcan Containers
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ATLANTA, Feb. 1 -- BWAY Corporation announced today that through a Canadian subsidiary it has finalized the acquisition of substantially all of the assets, and certain liabilities, of Vulcan Containers Ltd. including their general line steel pail and metal decorating businesses.
Vulcan Containers, headquartered in Toronto, ON, produces steel pails for distribution predominately in Canada. The Company operates one pail plant with annual sales of approximately $16.0 million (CDN).
Commenting on the acquisition, Mr. Jean-Pierre Ergas, BWAY Corporation's Executive Chairman, stated that, "The acquisition of Vulcan Containers' general line steel pail business represents a unique synergistic 'add-on' opportunity to our 2006 acquisition of ICL. The acquisition further expands our presence in Canada and fits very well with our stated strategy of growth in the North American rigid industrial packaging market. We believe this investment further demonstrates our continuing commitment to building the most comprehensive North American customer service platform in our industry."
Funding for the acquisition was provided by cash on hand.
BWAY Corporation is a leading manufacturer of steel and plastic containers for the general line category of the North American container industry.
Source: BWAY Corporation
CONTACT:
Jeffrey M. O'Connell,
BWAY Corporation,
+1-770-645-4800
