Smurfit-Stone Container Sells Consumer Packaging

“Today’s announcement represents an important milestone in the execution of our strategic plan, which includes improving the company’s financial flexibility through debt reduction,” said Patrick J. Moore, Smurfit-Stone chairman and chief executive officer. “The transaction meets our expectation of value and we will be able to use essentially all of the proceeds to reduce our debt. It was very important to obtain a deal with fully committed financing that could be closed quickly and minimize disruption to our customers and employees.”