Atlas Holdings LLC has announced that regulations have approved its agreement with International Paper to combine their consumer-packaging solutions businesses. As a result AGI and Shorewood Packaging have become AGI-Shorewood, one of the largest global specialty packaging businesses with operations in North America, Europe, Asia and Latin America.
“We’re pleased to complete this transaction, which has been a transformational event for AGI,” said Atlas Holdings Chairman Andrew Bursky. “The merger provides AGI with expanded diversification, entrée to new growing end markets, and significant positions in rapidly expanding regions like Asia and Latin America. We are now exceptionally positioned to serve both regional and international consumer packed-goods, entertainment and tobacco companies on a truly global basis.”
Mike Ukropina, who served as President of Shorewood Packaging until his appointment as President and CEO of AGI-Shorewood, added: “We intend to be recognized as the best global specialty-packaging business in our markets. AGI and Shorewood bring together great people, unrivalled customer focus and a history of innovation. As AGI-Shorewood, we become a much more capable supplier, providing a breadth of product, service and creative offerings that is unparalleled. This combination of resources and capabilities will bring real value to our key customers on four continents.”
Ukropina leads an executive team that includes Mark Caines, formerly CEO of AGI North America, as CEO of AGI-Shorewood; Tony Garnish, formerly CEO of AGI Europe, as CEO of AGI-Shorewood Europe; Lucy Tzou, formerly general manger of Shorewood Packaging and IP Foodservice Asia, as CEO of AGI-Shorewood Global Gravure and Asia; and Don Eldert, formerly CFO of Atlas Material Holding Corp; as Executive Vice President and CFO of AGI-Shorewood.
“To support the double-digit growth in Asia, AGI-Shorewood will invest USD 7MM in significant expansion of our Guangzhou, China plant, including a Heidelberg CX 102 8+L UV lithograph printing press that is also capable of printing with conventional inks and water- based coatings,” said Lucy Tzou, CEO of AGI-Shorewood Global Gravure and Asia. “As a leader in delivering packaging solutions in China for more than 15 years, this major investment demonstrates our continued commitment to the needs of Chinese and multinational brads for high quality, innovative packaging in the golf, tobacco, software, entertainment, electronics, cosmetics and confectionary segments.”
One of AGI-Shorewood’s industry sectors is entertainment and media; the company employs nearly 4,000 people worldwide, operating 24 manufacturing faculties in North America, Europe, Asia and Latin America. It maintains eight creative services offices in the US, UK France and Australia, and has five plastic injection-moulding operations in the US, UK, Germany, and Poland.
