| Deal Description | Continental Can Company, Inc., added the proceeds from this transaction to its general funds, which were used to replenish working capital, which had been reduced by outlays made in connection with the company's capital expenditure program. During 1959 and 1960 (to the time of the deal), the company completed the construction of four metal container plants, a corrugated box plant, and a fibre drum plant. Among the major projects being carried out at the time of the deal were the construction of a $40 million bleached sulphate paperboard mill, the construction of a metal container plant and two research and development laboratories, and a $29 million program for the installation of tin plate coil shear equipment in certain of its metal container plants. |
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