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CARAUSTAR INDUSTRIES, INC. ANNOUNCES PUBLIC OFFERING OF 10,300,000 SHARES OF COMMON STOCK

 CARAUSTAR INDUSTRIES, INC. ANNOUNCES PUBLIC OFFERING
 OF 10,300,000 SHARES OF COMMON STOCK
 AUSTELL, Ga., Aug. 24 /PRNewswire/ -- Caraustar Industries, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of 10,300,000 shares of its common stock at an estimated price range of $16 to $18 per share. Of the shares being offered, 5,150,500 shares will be offered by the company and 5,149,500 shares will be offered by certain selling shareholders. The offering will be managed by Goldman, Sachs & Co. and Kidder, Peabody & Co. Incorporated.
 The company is a manufacturer of recycled paperboard and converted paperboard products principally for the tube, can and drum, folding carton, gypsum wallboard facing paper and other specialty and converted product markets. Net proceeds to the company from the offering will be used to refinance outstanding indebtedness and pay certain related costs and for general corporate purposes.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 A prospectus relating to these securities may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, (212) 902-1000, or Kidder, Peabody & Co. Incorporated, 10 Hanover Square, New York, New York 10005, (212) 510-3000.
 -0- 8/24/92
 /CONTACT: H. Lee Thrash III, vice president and chief financial officer of Caraustar Industries, 404-948-3101/ CO: Caraustar Industries, Inc. ST: Georgia IN: PAP SU: OFR


KD -- NY077 -- 2712 08/24/92 16:28 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
Words:333
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