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  2. corenso acquisition wont affect wisconsin rapids jobs

corenso acquisition wont affect wisconsin rapids jobs

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By admin on Mon, 12/08/2014 - 15:40

photo gannett wisconsin media file photowisconsin rapids &ndash a finnish packaging materials company has completed its 112 million acquisition of corenso, which includes wisconsin rapidsbased corenso north america, but the deal is not expected to affect employment numbers.stora enso reached a conditional agreement in late september to divest the corenso business to powerflute. corenso has about 920 employees in 10 countries, including 165 fulltime workers at two facilities in wisconsin rapids, said tom janke, president of the wisconsin rapidsbased operation.powerflute bought all of the stora ensoowned corenso operations.&ldquoit&rsquos business as usual for us,&rdquo janke said. &ldquowe&rsquore continuing to pursue the same goals and targets we have had.&rdquocorenso&rsquos plant at 800 fremont st. converts recycled paper into spirally wound cores and tubes used for flexible packaging film for agriculture use or packaging medical products, and tape and label customers.the other facility is within the wisconsin rapids mill of newpage corp. the corenso machine there makes uncoated, recycled board for products that include slip sheet a sheet of paper placed between newly printed sheets to prevent offset or smudging, edgeboard and vboard, which are used in packaging appliances for shipping.corenso is part of stora enso renewable packaging division. stora enso, which bought the business from consolidated paper in 2000, is divesting from corenso to streamline itself and transform stora enso into a renewable materials company in growth markets, the companies had previously reported.powerflute chairman dermot smurfit said in a news release that the acquisition of corenso &ldquois a major step for powerflute and is consistent with our strategy of pursuing opportunities for growth and development in attractive, specialty paper and packaging markets.&ldquofollowing completion of the integration of corenso, powerflute will be a significantly larger group which we believe will provide us with a strong foundation from which to pursue further acquisition opportunities in due course,&rdquo smurfit said.&mdash deb cleworth writes for daily tribune media, wisconsin rapids.&nbsp

httpwww.postcrescent.comstorymoney20141207corensoacquisitionaffectwisconsinrapi…
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