Avery Dennison sells packaging business
Pulp & Paper, Sep 2003
Avery Dennison Corp. agreed to sell its package label converting business in Europe to CCL Industries Inc., a Torontobased label and packaging services company, for about US$60 million in cash proceeds.
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In a release, Avery said the deal includes a long-term, global supply agreement for Avery to provide pressuresensitive base materials to CCL Industries. The transaction involves the sale of two Avery facilities in Denmark, located in Brondby and Randers, as well as a plant in Chilly-Mazarin, France. The 325 employees at the three operations will become employees of CCL Industries.
Copyright Paperloop, Inc. Sep 2003
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