STAMFORD, CONN. (Jan. 3, 1:30 p.m. ET) — Atlas Holdings LLC, owner of AGI World, has purchased Shorewood Packaging from International Paper.
Both companies specialize in paper specialty packaging, although AGI World also has five injection molding plants in the United States, United Kingdom, Germany and Poland.
Stamford-based Atlas announced Jan. 3 that all Shorewood Packaging locations except those in China are now part of a new combined unit called AGI-Shorewood. Atlas expects to close on the Chinese plants later this month.
Mike Ukropina, who served as president of Shorewood Packaging, has been appointed president and CEO of AGI-Shorewood,
Atlas bought AGI from MeadWestvaco in 2010. When Shorewood Packaging's Chinese business is added later this month, AGI-Shorewood will have about 4,000 employees at 24 plants worldwide.
AGI's plastics operations specialize in media packaging and DVD boxes, but also mold other products including specialty closures and medical products.