Caraustar Announces Acquisition of Mayers Fibre Tube & Core |
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Caraustar Industries, Inc.
5000 Austell-Powder Springs Road Suite 300
Austell, GA, 30106-3227
USA
Press release date: December 21, 2007
ATLANTA, Dec. 21 / -- Caraustar Industries, Inc. (NASDAQ:CSAR), today announced that it has acquired Mayers Fibre Tube & Core, located in Winnipeg, Manitoba, Canada. Mayers is a manufacturer of construction tubes, waxed void tubes, paper cores, plastic test cyclinder molds, paper mailing tubes and metal end containers. The company services the U.S. and Canada with manufacturing representatives and a wide distribution network throughout the two countries. The terms of the transaction were not disclosed.
Michael J. Keough, president and chief executive officer of Caraustar, said, "This acquisition was a logical next step in furthering our previously announced concrete column form alliance with Mayers in the southeast United States. This acquisition is expected to approximately double our profitable column form business. We are pleased with the expansion of our Canadian footprint and to demonstrate the disciplined growth our stakeholders expect."
Caraustar, a recycled packaging company, is one of the world's largest integrated manufacturers of converted recycled paperboard. The company is a socially responsible corporation, is committed to environmentally sound practices and is dedicated to providing customers with outstanding value through innovative products and services. Caraustar has developed its leadership position in the industry through diversification and integration from raw materials to finished products. Caraustar serves the four principal recycled boxboard product end-use markets: tubes and cores; folding cartons; gypsum facing paper and specialty paperboard products. For additional information on Caraustar, please visit the company's website at www.caraustar.com.
Source: Caraustar Industries, Inc.
CONTACT: Ronald J. Domanico, Senior Vice President and Chief Financial Officer of Caraustar Industries, Inc., +1-770-948-3101
Web site: http://www.caraustar.com/
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