IP and Atlas Holdings LLC to combine consumer packaging businesses

The merging of Shorewood with AGI reflects Atlas’ investment strategy of purchasing and successfully transitioning divisions of larger corporate parents into strong independent companies.

Upon closing of the transaction, Atlas will own 100 percent of the combined AGI-Shorewood business in the U.S. and International Paper will own a 40 percent interest in the combined AGI-Shorewood business outside of the U.S. The various regional transactions are expected to close before the end of 2011.