Richards Packaging going public (March 24, 2004)
Canadian PlasticsCanadian Plastics
Bottle blow molder Richards Packaging Inc. has filed a preliminary prospectus with the intent of entering the Toron...
Bottle blow molder Richards Packaging Inc. has filed a preliminary prospectus with the intent of entering the Toronto Stock Exchange as an income trust in early April. If all goes as planned, the company will be listed as Richards Packaging Income Fund under trust units on the Toronto exchange. Under the terms of the prospectus, Gerry Glynn, who headed up the purchase of Richards by a group of investors in 2002, will take on the position of CEO. Howard Sandys will assume the post of vice-president.
"The public offering is intended to solidify our management structure and set a stable financial base for expansion of the company as a manufacturer and distributor," said Sandys. "We’re very excited and believe this will be a great vehicle for the growth of the company, as well as an excellent investment opportunity."