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Ropak Corp

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BUSINESS
December 20, 1994
Ropak Corp. said Monday that a special committee of its independent directors has agreed to extend an existing standstill agreement with Linpac Mouldings Ltd. of Birmingham, England. Ropak said in a news release that Linpac has agreed not to acquire additional shares of Ropak capital stock through today. The three-member committee earlier this month rejected as inadequate a $53-million bid by Linpac for Fullerton-based Ropak, a maker of plastic shipping containers.
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BUSINESS
July 20, 1994
Ropak Corp., a Fullerton maker of plastic packaging and handling products, reported a 28% gain in profit for the second quarter. Earnings were $2.3 million, or 46 cents a share, up from $1.8 million, or 40 cents a share, for the same period a year earlier. Sales rose 12% to $35.9 million from $32 million. First-half profit was $2 million, or 41 cents a share, 54% higher than earnings of $1.3 million, or 29 cents a share, for the same period of 1993.
BUSINESS
September 22, 1992
Ropak Corp., a maker of plastic shipping containers, said Monday that it has sold its Bishop's Falls, Canada, bottle-manufacturing facility to the plant's former manager. Ropak sold the Newfoundland bottle operation for cash and notes totaling less than $1 million but bought back a 20% stake in the newly incorporated company, Clamar Plastics Ltd., for an undisclosed amount.
BUSINESS
October 25, 1993
Ropak Corp., the Fullerton maker of plastic packaging, coatings and agricultural materials, reported third-quarter earnings of $392,000, or 9 cents a share. That contrasted with a year-earlier loss of $802,000, or 19 cents a share, which included a write-down from an equity investment of $1.7 million. Sales rose 14% to $29.7 million from $26 million. Profit for the first nine months of the year was $1.7 million, or 38 cents a share, up 42% from $1.2 million recorded for the like 1992 period.
BUSINESS
November 9, 1994
Ropak Corp., a major manufacturer of plastic shipping containers, said Tuesday that a special directors committee has hired an investment banking firm to evaluate a $53-million bid for the company. The committee of three outside directors retained Wertheim Schroder & Co. Inc. in New York to review the cash offer of $10.50 a share from Linpac Mouldings Ltd. in Birmingham, England, and determine if it is fair to minority shareholders. The Roper family, which controls 25.
BUSINESS
February 28, 1995
Ropak Corp. said Monday that an English plastics firm has purchased all the common stock held by the founding Roper family, in a deal worth at least $10.3 million. Linpac Mouldings Ltd. bought 985,520 shares of Ropak stock for $10.50 a share. In addition, stock options held by the Roper family for an additional 132,000 shares were canceled for payment of an additional, but undisclosed, amount by Linpac.
BUSINESS
December 23, 1994 | From Times Staff and Wire Reports
Ropak Corp. said Thursday that major shareholder Linpac Mouldings Ltd. has withdrawn its $44-million offer after being rebuffed by Ropak's directors. The action came after Fullerton-based Ropak rejected Linpac's proposal a second time. Ropak, a Fullerton-based maker of plastic shipping containers, turned down the same offer earlier this month, calling it inadequate. The offer was first announced in October.
BUSINESS
December 20, 1994
Ropak Corp. said Monday that a special committee of its independent directors has agreed to extend an existing standstill agreement with Linpac Mouldings Ltd. of Birmingham, England. Ropak said in a news release that Linpac has agreed not to acquire additional shares of Ropak capital stock through today. The three-member committee earlier this month rejected as inadequate a $53-million bid by Linpac for Fullerton-based Ropak, a maker of plastic shipping containers.
BUSINESS
September 29, 1994 | From Times Staff and Wire Reports
Ropak Corp. Reveals Merger Offer: The Fullerton plastics maker said a British competitor has offered to buy the company in a deal valued at $41 million and that the founding Roper family, which controls a 25.4% stake, favors the proposal. The family--led by Ropak executives and brothers William, Robert E. and C. Richard Roper--agreed to give Linpac Mouldings Inc. in Birmingham, England, the right to vote its shares on the merger proposal at a soon-to-be-scheduled shareholders meeting.
BUSINESS
December 3, 1994 | JAMES S. GRANELLI, TIMES STAFF WRITER
A special directors committee at Ropak Corp., a major maker of plastic shipping containers, put a pending sale of the company in jeopardy Friday by calling a British firm's $53-million offer "inadequate." The three-member committee, basing its decision on a confidential report from a New York investment bank, rejected the $10.50-a-share bid by Linpac Mouldings Ltd. in Birmingham, England.
BUSINESS
November 9, 1994
Ropak Corp., a major manufacturer of plastic shipping containers, said Tuesday that a special directors committee has hired an investment banking firm to evaluate a $53-million bid for the company. The committee of three outside directors retained Wertheim Schroder & Co. Inc. in New York to review the cash offer of $10.50 a share from Linpac Mouldings Ltd. in Birmingham, England, and determine if it is fair to minority shareholders. The Roper family, which controls 25.
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