Baxter packaging business sale
This article was originally published in The Gray Sheet
Executive Summary
Baxter selling its 134,000 sq. ft. Tower Packaging business to Bowater, a London-based international packaging and printing company. Terms of the sale were not disclosed. The divestiture will enable Baxter to "better focus its resources and management attention on its core medical products businesses and technologies," the company says. Baxter will enter a long-term supply agreement with Bowater under the deal. The supply agreement expands on existing contracts under which Bowater supplies packaging products to 15 Baxter manufacturing facilities.