Rock-Tenn Company Announces the Acquisition of the Minority Interest of GSD Packaging, LLC.NORCROSS, Ga. -- Rock-Tenn Company (NYSE NYSE See: New York Stock Exchange :RKT RKT Rocket RKT RockSim file (Apogee Components rocketry simulation program file extension) RKT Resource Kit Tools ) announced today that it has acquired the remaining 40% minority interest in GSD GSD German Shepherd Dog GSD Graduate School of Design GSD Glycogen Storage Disease GSD General Services Division GSD Gundam Seed Destiny (anime) GSD Ground Sample Distance GSD Geometric Standard Deviation Packaging, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control that it did not own for $32 million, giving Rock-Tenn sole ownership of the company. GSD Packaging manufactures the Fold-Pak([R])food pails and Bio-Pak([R]) and SMARTServ[TM] food containers in its three plants located in California, Georgia and Pennsylvania. Fold-Pak([R])food pails are the preeminent takeout Takeout A financing to refinance or take out another loan. package used by Chinese restaurants in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Bio-Pak([R]) containers are the premium paperboard package for the foodservice and grocery industries. SMARTServ[TM] containers are grease and leak resistant and can package a wide variety of food products. Rock-Tenn acquired its original 60% interest in GSD as a result of its acquisition of the Gulf States paperboard and packaging business in June 2005. Rock-Tenn Company Chairman and Chief Executive Officer James A. Rubright stated, "We are very pleased with the acquisition of the minority interest in GSD. This business has continued to produce very good results since we acquired it as part of the 2005 acquisition of Gulf States. GSD is an important customer of our Demopolis bleached paperboard mill and makes versatile paperboard based food containers serving a very broad customer base. We expect this acquisition to be immediately accretive to earnings." Rock-Tenn Company provides a wide range of marketing and packaging solutions to consumer products companies at low costs, with net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $2.1 billion and operating locations in the United States, Canada, Mexico, Argentina and Chile. The Company is one of North America's leading manufacturers of packaging products, merchandising displays and bleached and recycled paperboard. Statements herein regarding, among others, the accretive impact of the acquisition and anticipated future earnings constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the federal securities laws. Such statements are subject to certain risks and uncertainties that could cause actual amounts to differ materially from those contained in any forward-looking statement. With respect to these statements, the Company has made assumptions regarding, among other things, expected economic conditions, competitive conditions in our businesses, adverse actions of our customers, our competitors and suppliers, expected volumes and price levels of purchases by customers as well as raw material and energy costs. The forward-looking statements are subject to certain risks including, among others, that the foregoing assumptions are inaccurate. Such risks are more particularly described in the Company's filings with the Securities and Exchange Commission, including under the captions "Business -- Forward-Looking Information" and "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year. Management believes its estimates are reasonable; however, undue reliance should not be placed on such estimates, which are based on current expectations. The information contained herein speaks as of the date hereof and the Company does not undertake any obligation to update such information as future events unfold. |
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