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Boxmore on its own; MBO for Chesapeake's Irish holdings

Article-Boxmore on its own; MBO for Chesapeake's Irish holdings

Diversified packaging supplier Chesapeake Corp. (Richmond, VA) has sold its PET bottle and HDPE closure business in Lurgan, Northern Ireland to that company''s management for an undisclosed price. Formerly known as Boxmore Plastics Ltd., the new business will be called Beverage Plastics Ltd. and focus on the carbonated soft drink and water markets.

In a release describing the transaction, Chesapeake said it''s in the midst of reevaluating its plastics-packaging businesses, which are focused on niche markets and products. The company has 50 locations in Europe, North America, Africa, and Asia, and it employs 6100 worldwide.

According to Chesapeake''s manager of corporate communications, Joe Vagi, the company retains some beverage packaging, with an HDPE bottle plant serving the dairy industry in Cavan, Ireland, and PET performs, bottles, and HDPE closures still manufactured in three facilities in Kunshan, China and Harrismith and Cape Town, South Africa. Vagi says those bottle operations serve the carbonated soft drink and bottled-water industries.-Tony Deligio; [email protected]

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