Spartech sells Canadian-based corrugated sheet business
Clayton, Miss.-based Spartech Corp. has sold off its corrugated sheet business, based in Cornwall, Ont. to Coroplas...
Clayton, Miss.-based Spartech Corp. has sold off its corrugated sheet business, based in Cornwall, Ont. to Coroplast, a division of Great Pacific Enterprises, Inc.
The divested business has annual revenues of approximately $9 million that will be integrated into Coroplast’s three manufacturing facilities, which are located in Granby, Que., Dallas, Tex., and Vanceburg, Ken.
Coroplast is a maker of corrugated plastic sheets and containers.
“This divestiture is consistent with our ongoing commitment to strengthen our financial performance and focus on Spartech’s core operations," said George A. Abd, Spartech’s president and CEO, in a statement.
"This sale achieves our goal of finding a strategic buyer for the corrugated business that is committed to growing the business and better serving this specific niche of customers. Coroplast has a strong market position and can provide focused support for the automotive packaging, graphic arts, and industrial markets served by this business,” he added.