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Silgan Holdings to acquire Graham Packaging
19 April 2011: Silgan Holdings Inc, a consumer packaging maker, will acquire Graham Packaging Company in a deal valued at $1.28 billion (approx Rs 5,760 crore).
The deal will create a stronger force in creating packaging for beverage, food and consumer products ranging from sports drinks and beer to personal care products and motor oil.
Silgan will have approximately 17,000 employees and 180 manufacturing facilities in 19 countries once the deal is completed. The boards of both companies have approved the deal. Silgan expects the sale will close in the third quarter if regulators and shareholders approve.
Graham Packaging is based in York, Pa., and molds plastic containers for juices, sport and yogurt drinks, nutritional supplements, condiments, dressings, and beers.
Source: Canplastics