Caraustar readies for Smurfit-Stone deal

Caraustar Industries has announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act relating to the company's previously announced acquisition of the industrial packaging operations of Smurfit-Stone Container Corporation has expired. The parties now anticipate the acquisition will close on 30 September 2002.

Caraustar, a recycled packaging company, is one of the largest manufacturers and converters of recycled paperboard and recycled packaging products in the United States. Caraustar is currently the only major packaging company that serves the four principal recycled paperboard product markets: tubes, cores and cans; folding carton and custom packaging.

Jefferson Smurfit Group is a balanced paper-based packaging group with integrated operations in the US, Europe, Latin America and a modest presence in Asia. Together with its associates it is the leading manufacturer of containerboard, corrugated containers and other paper-based packaging products. In addition to wholly owned operations, the group has interests in several associated companies, the principal of which is Smurfit-Stone Container Corporation (SSCC). Spanning four continents and 30 countries, JSG and its associates employ some 68,000 people and are significant players in Europe, Latin America and North America.