Layoffs loom in Minnesota despite Boise acquisition
INTERNATIONAL FALLS, Minn. (AP) — Dozens of layoffs are still expected at the Boise Inc. plant in International Falls, despite news the company is being acquired by Packaging Corp. of America.
International Falls plant spokeswoman Lori Lyman tells WDIO-TV the acquisition doesn't change the loss of 265 local Boise jobs. International Falls Mayor Bob Anderson says the new owner will continue to be the largest employer in the city and the county even after the layoffs.
Packaging Corp. of America announced Monday that it's buying Boise for nearly $1.3 billion, acquiring additional containerboard needed to support its growth.
Both companies' boards unanimously approved the acquisition, which is expected to close in the fourth quarter.
Copyright 2013 The Associated Press.