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Silgan Holdings paying $250 mln for packaging unit

7/3/12 9:09 AM ET (MarketWatch)

NEW YORK (MarketWatch) -- Silgan Holdings Inc. said Tuesday it'll pay $250 million to buy Rexam PLC's plastic thermoformed food business. The unit has anticipated 2012 sales of $100 million as a supplier of bowls and barrier trays to packaged food and meal companies. The deal is expected to be neutral to Silgan's 2012 earnings and add modestly to its 2013 results, the company said.