Product lines in these businesses include air cushioning, air padded mailers, foam, Hexacomb kraft honeycomb, flexible packaging, and hospital supplies. Pactiv is retaining its European molded fiber business and Asian operations.
“The sale of these businesses represents an important step in Pactiv’s strategy to grow its higher return consumer, foodservice, and food packaging businesses. We believe Pactiv will be a stronger, more focused company with increased financial flexibility and better growth prospects as a result of this divestiture,” said Richard L. Wambold, chairman and chief executive officer of Pactiv Corp.
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