KapStone Paper and Packaging Corporation announced that effective January 1, 2017, Roger Stone is stepping down as KapStone's Chief Executive Officer. Roger will continue to be an integral part of the KapStone organization, as he will retain his role as Executive Chairman of the Board. Matt Kaplan will assume the responsibilities of the CEO and continue as the Company's President. Randy Nebel will be promoted to Executive Vice President of Integrated Packaging, responsible for both the Company's Mill and Corrugated Container operations. Tim Keneally will retire from his position as Vice President, General Manager and President of the Container Division. Bill Kessinger, currently Vice President and Mill Manager at Roanoke Rapids, will be promoted to Vice President and General Manager of the Mill system, and Pat Ortiz, currently Mill Division Director of Engineering, Environmental Affairs, and Safety, will be promoted to Vice President and General Manager of the Corrugated Container system. click Read More below for additional detail
Stora Enso has entered into an equity transfer agreement to increase its ownership stake from 51% to 90% in its Chinese subsidiary Stora Enso Inpac Packaging Co. Ltd. The transaction is based on the terms of an option agreement dated October 2010. The cash consideration is approximately EUR 46 million. The transaction is subject to regulatory approval by Chinese authorities and is expected to be finalised during the first quarter of 2016.
The transaction gives Stora Enso a better opportunity to develop the Inpac Packaging business further and to execute the strategy in the region. The transaction will have no impact on group’s sales or operating profit.
Stora Enso Inpac offers fibre-based packaging solutions with design, production, sales and R&D services. The company has production units in Qian’an, Dongguan and Jiashan in China and sales offices in Beijing, Shanghai and Dongguan, and serves leading global and local brand owners.