AGI-Shorewood Formed in Merger of AGI World and Shorewood Packaging
The merger of AGI with Shorewood is consistent with Atlas Holdings’ investment approach of purchasing and successfully transitioning divisions of larger corporate parents into strong independent companies. “We acquired AGI from MeadWestvaco in 2010. The combination with Shorewood, formerly owned by International Paper, creates an independent company focused exclusively on bringing specialty packaging solutions to its customers. In our experience, this focus helps enable superior outcomes for customers, employees and ultimately, investors.”
AGI-Shorewood also announced plans for a major expansion of its operation in Guangzhou, China, following the completion of the closing of Shorewood’s Chinese businesses later this month.
“To support double-digit growth in Asia, following closing on the Chinese businesses later this month, AGI-Shorewood will make an investment of USD 7 million in a significant expansion of our Guangzhou, China plant, including a Heidelberg CX 102 8+L UV lithograph printing press that is also capable of printing with conventional inks and water-based coatings,” said Lucy Tzou, CEO of AGI-Shorewood Global Gravure and Asia. “As a leader in delivering packaging solutions in China for more than 15 years, this major investment demonstrates our continued commitment to the needs of Chinese and multinational brands for high quality, innovative packaging in the golf, tobacco, software, entertainment, electronics, cosmetics and confectionery segments.”
AGI-Shorewood is a specialized global packaging company that makes innovative products for the world’s premier consumer products companies. Key consumer-packaging segments it serves include entertainment and media, tobacco, beauty and personal care, cosmetics and fragrance, healthcare and pharmaceuticals, consumer electronics, golf, confectionary and specialty foods, beverages, and specialty gravure. With this transaction and following the closing on Shorewood’s Packaging’s Chinese businesses later this month, the company will employ nearly 4,000 people worldwide, operating 24 manufacturing facilities in North America, Europe, Asia, and Latin America. It maintains eight creative services offices in the US, UK, France and Australia. The company also has five plastic injection-molding operations in the US, UK, Germany, and Poland. Atlas owns 100% of the combined AGI-Shorewood business in the U.S. and 60 percent of the combined AGI-Shorewood business outside of the US. International Paper owns 40% of the combined AGI-Shorewood business outside of the United States.