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KapStone Paper and Packaging Sells Assets of RideRite Business
Northbrook, Illinois, USA, 31 March 2009 -- /PRNewswire/ -- KapStone Paper and Packaging Corporation (Nasdaq: KPPC) today announced the sale of the assets of its Ride Rite business to Illinois Tool Works Inc. Ride Rite is an inflatable dunnage bag manufacturer in Fordyce, Arkansas. Terms of the transaction were not disclosed.
Headquartered in Northbrook, Illinois, KapStone Paper and Packaging Corporation is a leading North American producer of unbleached kraft paper products and linerboard. The company is the parent company of KapStone Kraft Paper Corporation, which includes paper mills in Roanoke Rapids, North Carolina, and North Charleston, South Carolina, including a cogeneration facility, a lumber mill in Summerville, South Carolina, and five chip mills in South Carolina. The business employs approximately 1550 people.
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