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CROWN PACKAGING BECOMES LARGEST RECYCLED AND PAPER PACKAGING MANUFACTURER IN WESTERN CANADA THROUGH $100 MILLION PURCHASE

 VANCOUVER, British Columbia, Nov. 1 /PRNewswire/ -- Crown Packaging Ltd. of Richmond, British Columbia, today acquired the Western Canadian paperboard and packaging assets of Paperboard Industries Corp. for approximately $100 million, it was announced by Tim Dwane and Hans G. Koch, principals and co-chairmen of Crown Packaging.
 The purchase transforms Crown Packaging into the largest manufacturer of recycled paper and packaging products in Western Canada, offering the most complete range of packaging products available in that market and the Northwestern United States.
 In the transaction, Crown Packaging acquired from Paperboard Industries, a wholly owned subsidiary of Cascades Paperboard International Inc. of Quebec, a paper mill in Burnaby, British Columbia, seven plants in British Columbia and Alberta that collect and process waste paper for recycling at the Burnaby mill and plants in Burnaby and Winnipeg, Manitoba, that produce folding cartons.
 Crown Packaging previously operated seven manufacturing plants in British Columbia and Washington State serving the folding carton, corrugated, and converted paper markets in Western Canada, Washington, Alaska, Oregon, and Northern California.
 "Crown Packaging now by far is Western Canada's largest integrated producer of recycled paperboard and paper packaging products and one of the largest in the Pacific Northwest," Koch said. "As for environmental responsibility, our paperboard mill in Burnaby saves the equivalent of 1 million trees a year through recycling."
 Dwane said: "We have been quietly growing since purchasing Boxmaster, a corrugated container facility in Richmond, 13 years ago. Our sales revenues have grown from $600,000 in 1981 to exceed a quarter of a billion dollars next year."
 Dwane and Koch said Crown has achieved vertical integration and now offers "one-stop shopping" for various kinds of packaging, including corrugated containers, specialty corrugated products, folding cartons, bags, food service, and industrial converted paper products.
 The acquisition increases the number of employees in the company to 1,300 from 800.
 -0- 11/1/93
 /CONTACT: T.F. (Tim) Dwane or Hans G. Koch, Co-Chairman, 604-277-7111/


CO: Crown Packaging; Paperboard Industries Corp. ST: British Columbia IN: PAP SU: TNM

LS-JB -- LA051 -- 9391 11/01/93 18:44 EST
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Publication:PR Newswire
Date:Nov 1, 1993
Words:344
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