Sonoco buys EconoReel spool, reel assets

HARTSVILLE, S.C. (Dec. 1, 9:50 a.m. ET) -- Sonoco Products Inc. is making an acquisition in its spools and reels line of business.

The Hartsville-based packaging company is acquiring the injection molded plastic spools and reels assets of EconoReel Corp. of Logan, Utah. No terms were revealed.

EconoReel makes small to mid-sized plastic and composite spools and reels that are primarily used for the insulated wire market, Sonoco said.

"EconoReel fills an important gap in Sonoco´s existing plastic, plywood and composite wire and cable reel business by adding mid-range diameter plastic and plywood-replacement spools and reels," said Bob Puechl, division vice president and general manager of Sonoco´s global rigid plastics business.

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