Business News

Smurfit-Stone Acquires Controlling Interest in Calpine Corrugated LLC

Thursday 31. July 2008 - Smurfit-Stone Container Corporation (NASDAQ:SSCC) today announced the completion of its previously announced acquisition of a ninety percent interest in Calpine Corrugated LLC, an independent corrugated container producer in Fresno, CA.

The company will consolidate Calpine Corrugated into its operations in the third quarter of 2008, including both assets and liabilities of approximately $55 million. No further charges or payments are expected as a result of the completion of the acquisition.

“As we establish one of the most modern converting systems in North America, the addition of Calpine Corrugated will significantly upgrade our West Coast production capabilities,” said Patrick J. Moore, Smurfit-Stone chairman and chief executive officer. “With Calpine and our new Los Angeles area manufacturing facility set to begin operations in the third quarter 2008, Smurfit-Stone will be one of the premier packaging companies serving the important California market.”