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RIVERWOOD INTERNATIONAL AND DANAPAK FORMING JOINT VENTURE FOR SCANDINAVIAN MARKET

 ATLANTA, April 19 /PRNewswire/ -- Riverwood International Corporation (NYSE: RVW) and Danapak Holding Ltd., based in Denmark, today announced that they have reached an agreement in principle to enter into a joint venture to serve the Scandinavian beverage market with machinery-based systems for beverage and food packaging applications. Terms of the agreement were not disclosed.
 The joint venture company will be based in Herning, Denmark, to serve a territory that includes Denmark, Finland, Norway, Sweden, Iceland, Greenland and the Faroe Islands.
 The joint venture will provide Scandinavian beverage customers with multiple packaging systems that run paperboard beverage cartons converted by Danapak from Riverwood's ISO 9001-certified coated paperboard through Riverwood's proprietary packaging machinery. Danapak's Cartons Division is the leader in carton converting in Scandinavia.
 "By linking our capabilities with those of Danapak, the joint venture will provide a new level of service to the Scandinavian beverage and food markets," said Thomas H. Johnson, president and chief executive officer of Riverwood International. "This venture will provide Scandinavian customers with access to the entire range of Riverwood's proprietary machinery technology, and also provide new markets for our ISO 9001-certified coated board produced in the United States."
 Riverwood International Corporation is a global paperboard and packaging machinery company headquartered in Atlanta with 1992 annual sales of more than $1 billion, assets of $2 billion and 8,600 employees worldwide. Its European operations have grown through a mix of greenfield operations for multiple packaging systems in the United Kingdom and Germany and by acquisition. Riverwood's total international operations span five continents and represent more than 30 percent of assets and 40 percent of revenues.
 Danapak Holding Ltd. is composed of four divisions with total revenues of approximately DKK 1.7 billion ($300 million). Danapak's Cartons Division consists of Wilhelm Jontzen Gmbh, Germany; Vernon Packaging Ltd., United Kingdom; Pakko Emballage A/S; and Timmermann Emballage A/S in Denmark. The division has annual revenues of approximately DKK 500 million ($100 million) and employs approximately 500 people.
 -0- 4/19/93
 /CONTACT: Jonna Manes, 404-644-3014; or Sharon Sweet (Financial), 303-978-4694, both of Riverwood International Corporation/
 (RVW)


CO: Riverwood International Corporation; Danapak Holding Ltd. ST: Georgia IN: PAP CST SU: JVN

MC -- DV001 -- 7141 04/19/93 08:01 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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