Feb 24 2008
Aldabra 2 Acquisition Corp. announced that it has completed its acquisition of Boise Cascade, LLC’s packaging and paper manufacturing businesses (“Boise”). The transaction was approved by the shareholders of Aldabra on February 5, 2008. In conjunction with the completion of the transaction, Aldabra changed its name to Boise Inc. and, as of February 25, 2008, its common stock and warrants will trade on the New York Stock Exchange under the new symbols BZ and BZ.WS, respectively.
“Becoming a public company is an exciting new chapter for our company,” said Alexander Toeldte, CEO of Boise Inc. “The fundamentals and outlook for our business and for the paper industry remain strong. As an independent company listed on the New York Stock Exchange, we believe we can sharpen our intense focus on customer satisfaction while offering our investors an opportunity to participate in the growth of our business. With a strong foundation in place, we look forward to additional progress in the coming months and years.”
“We are extremely pleased with the transformation of Aldabra 2 into Boise Inc., one of the leading packaging and paper companies in North America,” said Nathan Leight, formerly Chairman of Aldabra and now a member of the board of directors of Boise Inc. “From the beginning of our due diligence through today’s closing, we’ve been impressed with the strong cash flow, world class products, and tremendous employee involvement at Boise. Our shareholders are now invested in well-positioned assets that are overseen by an outstanding management and operating team that has both global strategic insight and deep industry knowledge.”