Graphic Packaging Corp.

Riverwood Holding, Inc., parent company of Riverwood International Corporation, Atlanta, GA, and Graphic Packaging International Corporation, Golden, CO, will take the name of Graphic Packaging Corporation on completion of their merger. 

The merger, announced on March 26, 2003, will create a global paperboard packaging company with leading market positions serving the beverage, food and consumer products industries worldwide. The pro forma 2002 revenues for the combined company are about $2.3 billion.

Jeffrey Coors, currently chairman and CEO of Graphic Packaging, is expected to become the executive chairman of the board and Stephen Humphrey, currently president and CEO of Riverwood, will become president and CEO. 

Riverwood International is an integrated provider of paperboard packaging solutions to multinational beverage and consumer products companies. Graphic Packaging International Corporation supplies folding carton packaging to the food, beverage and other consumable products markets. Graphic Packaging has a large recycled paperboard mill and 19 converting plants as well as three research and design centers. The company holds over 150 US patents for its printing and package converting processes. 

Riverwood recently announced a multi-million-dollar capital investment program. Estimated at nearly $75 million, the 30-month program will add new manufacturing technology and equipment designed to enhance the competitiveness of its beverage carton converting operations. 

As part of implementing new automated systems and adding press capacity, Riverwood will now serve customers from four converting plants in Ohio, Louisiana, Mississippi and Georgia. 

Specific features of these initiatives include:
• A capital investment of about $75 million in plant automation and new press capacity.
• Transfer of beverage carton converting operations from its Fort Atkinson, WI, plant to its West Monroe, LA, plant.
• Consolidation of soft drink carton converting operations to Riverwood’s Perry, GA, plant for a total investment of some $40 million. Riverwood is adding a new 300,000 sq. ft. warehouse and product distribution center in Perry, enlarging the current facility by 150,000 sq. ft., and installing state-of-the art presses and high-speed gluers. Work on the new building and the plant additions was to begin in June for completion in 2005.

www.riverwood.com; www.graphicpkg.com. PI

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