Brazilian Company Acquires Two US Plants, Retains Workers

  • Pactiv Evergreen sells two facilities to Suzano for $110 million
  • Suzano to offer jobs to current employees at both facilities
  • Deal expected to close in Q4
  • Pactiv Evergreen expects noncash impairment charge of $320-$340 million in Q3
  • Pine Bluff facility makes liquid packaging board and cupstock
  • Waynesville facility provides extrusion capacity for Pine Bluff’s board production
  • Long-term supply agreement between companies

Pactiv Evergreen has agreed to sell its paper mill in Pine Bluff, Arkansas and an extrusion facility in Waynesville, North Carolina to Brazilian paper and pulp producer Suzano for $110 million. The deal is expected to close in the fourth quarter of this year. Pactiv Evergreen produces fresh foodservice and food merchandising products and its facilities manufacture liquid packaging board and cupstock used in beverage cartons and paper cups, while Waynesville provides extrusion capacity for Pine Bluff’s board production. Suzano has agreed to retain current employees at both locations and enter a long-term supply agreement with Pactiv Evergreen for liquid packaging board.

Factuality Level: 10
Factuality Justification: The article provides accurate information about the sale of two facilities by Pactiv Evergreen to Suzano, the expected closing date, and the long-term supply arrangement between the companies.
Noise Level: 3
Noise Justification: The article provides relevant information about the sale of two facilities by Pactiv Evergreen to Suzano and the expected impact on employees and operations, but lacks in-depth analysis or exploration of long-term trends or consequences.
Public Companies: Pactiv Evergreen (N/A), Suzano (N/A)
Key People: Paul Ziobro (N/A)

Financial Relevance: Yes
Financial Markets Impacted: Paper and pulp industry
Financial Rating Justification: The article discusses the sale of two facilities by Pactiv Evergreen to Suzano, a paper and pulp producer, which impacts the financials of both companies involved and has implications for the paper and pulp industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article.

Reported publicly: www.marketwatch.com