Smith (DS) PLC
21 October 2004
21 October 2004
DS Smith's Acquisition of LINPAC Containers Cleared by Competition Commission
DS Smith welcomes today's announcement by the Competition Commission (CC) that
it has cleared the acquisition of LINPAC Containers, which was completed on 22
March 2004. The CC concluded that the acquisition will not lead to a
substantial lessening of competition in the market for the supply of corrugated
cardboard sheet or associated markets.
Tony Thorne, Group Chief Executive of DS Smith, said:
'I am pleased with the outcome of the inquiry. We are now able to begin the
process of combining LINPAC Containers with our existing operations to create
the UK's foremost corrugated packaging business. I am confident that we will be
able to generate the substantial synergies indicated at the time of the
acquisition. Information on progress and the revised expected timing for
achieving the synergies will be provided when we announce our interim results in
December.'
Enquiries
DS Smith Plc 020 7932 5000
Tony Thorne, Group Chief Executive
Gavin Morris, Group Finance Director
Peter Aubusson, Group Communications Manager
Financial Dynamics 020 7269 7291
Richard Mountain/Robert Gurner
This information is provided by RNS
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