Bullboard - Stock Discussion Forum Transcontinental Inc TCLCF

Primary Symbol: T.TCL.A Alternate Symbol(s): TCLAF | T.TCL.B

Consumer Cyclical Packaging & Containers

Transcontinental Inc. is engaged in flexible packaging in North America and in retail services in Canada. It is also Canada’s largest printer. It conducts business in Canada, the United States, Latin America and the United Kingdom in three separate sectors: the Packaging Sector, the Retail Services and Printing Sector and the Media Sector. Its Packaging Sector specializes in extrusion... see more

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Transcontinental Inc > Sells its Industrial Packaging Operations T.TCL.A

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Post by Betteryear2 on Oct 28, 2024 2:51pm

Sells its Industrial Packaging Operations T.TCL.A

MONTREAL, Oct. 28, 2024 (GLOBE NEWSWIRE) -- TC Transcontinental (TSX: TCL.A TCL.B) announces the sale of its industrial packaging operations to Hood Packaging Corporation for a price of US$95 million (about C$132 million1) subject to working capital adjustments. These operations generated approximately US$50 million (about C$68 million2) in revenues during the last twelve months ended July 28, 2024. The Corporation anticipates using the net proceeds to continue reducing net debt in line with its business priorities. This will increase its flexibility in capital allocation, including targeted acquisitions in growth segments.

TC Transcontinental Sells its Industrial Packaging