US paper company Sonoco has reached an agreement with its Catalan counterpart Texpac to acquire its subsidiaries, Conitex (in which Sonoco already has a 30% participation) and Compositub.
The operation was notified to the National Commission of Markets and Competition, being valued at 123 million euros (US$143 million).
Sonoco is one of the global giants in the paper industry, with more than 21,000 employees worldwide. In Spain, the company operates a cardboard tube production plant in Zaragoza.
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