Sonoco (NYSE: SON), one of the largest diversified global packaging companies, has completed the previously announced purchase of Matrix Packaging, Inc., a leading manufacturer of custom designed blow molded rigid plastic containers and injected molded products, for an all-cash purchase price of approximately US $210 million, it was announced today by Harris E. DeLoach, Jr., chairman, president and chief executive officer.

As previously announced, the acquisition, to be known as Matrix Packaging, a Sonoco company, is expected to be modestly accretive in 2007 and generate sales on an annualized basis of approximately US $140 million. The new Sonoco company is led by Pushminder Judge, who is one of the founders of the business and has been its president and chief executive officer. Judge joins Sonoco's management committee and reports to Charles Sullivan, executive vice president.

Based in Mississauga, Ontario, Canada, Matrix Packaging operates six state-of-the-art manufacturing facilities in the United States and Canada and employs approximately 860 workers. Matrix utilizes some of the most technologically advanced rigid plastic packaging equipment, including extrusion blow molding, injection-stretch blow molding and injection molding that are able to produce mono- and multi-layer rigid plastic containers using a number of plastic materials. The new Sonoco company manufactures a variety of custom-designed and stock containers and closures for multi-national consumer product goods companies serving the personal care, household chemicals, pharmaceutical and other markets. In addition, Matrix provides full-service decorating and component assembly capabilities, including silk-screen printing, pressure sensitive and heat transfer labeling.

About Sonoco

Founded in 1899, Sonoco is a $3.7 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations.

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