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TC Transcontinental agreed to sell its industrial packaging operations to Hood Packaging Corporation for US$95 million, subject to working capital adjustments. The Thomasville, North Carolina operations and 138 employees are transferred, and Hood also acquires the industrial packaging business of the Ontario, California plant.
TC Transcontinental agreed to sell its paper and woven polypropylene packaging operations to Hood Packaging Corporation for US$180 million, subject to working capital adjustments. Closing is expected in the first quarter of fiscal 2020.