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DS Smith sells plastics division for nearly £450m

PrintWeek offers free online access to all of our users, but we can only do this thanks to the fantastic support of our advertisers. If you are seeing this message, it is most likely because your browser is using an ad blocker. Roberts: "This is a financially and strategically attractive deal" The transaction, which has an enterprise value of $585m (£445m), is expected to complete in the second half of this calendar year, subject to customary closing conditions including regulatory approvals. The London-headquartered packaging giant first revealed its intentions to sell the plastics division in December, following an initial review of its plastics business initiated earlier in 2018. In a call to investors this morning (6 March), DS Smith chief executive Miles Roberts said: “This sale is another step in our strategy to focus on sustainable packaging and at the same time it accelerates our financial deleveraging in line with our medium-term targets.

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