MIRA INFORM REPORT

REVISED REPORT

Report Date :

20.06.2012

IDENTIFICATION DETAILS

Name :	PREGIS PROTECTIVE PACKAGING LTD.

Formerly Known As :	AMBASSADOR PACKAGING LIMITED

Registered Office :	Road One Winsford Industrial Estate Winsford CW7 3QB

Country :	United Kingdom

Financials (as on) :	31.12.2010

Date of Incorporation :	12.07.1909

Com. Reg. No.:	00104001

Legal Form :	Private limited with Share Capital

Line of Business :	The distribution of packaging materials.

No. of Employees :	109

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Max. Credit Limited:	£205,000
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

PREGIS PROTECTIVE PACKAGING LTD.

00104001

Company Name	PREGIS PROTECTIVE PACKAGING LTD.	Company Number	00104001
Registered Address	ROAD ONE	Trading Address	Building 40 Third Avenue Pensnett Trading Estate Kingswinford, West Midlands DY6 7UP
	WINSFORD INDUSTRIAL ESTATE
	WINSFORD
	CW7 3QB
Website Address	http://www.ambassadorpackaging.com
Telephone Number	01606567000	Fax Number
TPS	No	FPS	No
Incorporation Date	12/07/1909	Company Status	Active - Accounts Filed
Previous Name	AMBASSADOR PACKAGING LIMITED	Type	Private limited with Share Capital
Date of Change	17/01/2012	Filing Date of Accounts	30/09/2011
		Share Capital	£6,242,433
SIC03	5156	Currency	GBP
SIC03 Description	WHOLESALE OF OTHER INTERMEDIATE PRODUCTS
SIC07	46760
SIC07 Description	WHOLESALE OF OTHER INTERMEDIATE PRODUCTS
Principal Activity	The distribution of packaging materials.

CREDIT RECOMENDATION

Current Credit Limit: £205,000

DIRECTORS/MANAGEMENT

Current Directors

Name	Michael Rathbone	Date of Birth	16/04/1958
Officers Title	Mr	Nationality	British
Present Appointments	12	Function	Director
Appointment Date	06/01/1998
Address	16 Eden Avenue, , Winsford, CW7 3AS
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	George Ladley	Date of Birth	26/09/1948
Officers Title	Mr	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	15/10/1991
Address	5 Delamere Park Way East, Cuddington, Northwich, CW8 2UE
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Anthony Petrie	Date of Birth	29/01/1960
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	08/02/1999
Address	The Elms, Cassia Green, Marton, CW7 2PZ
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Francisco Gaspar	Date of Birth	25/04/1964
Officers Title	Mr	Nationality	Spanish
Present Appointments	2	Function	Director
Appointment Date	10/03/2010
Address	1 Avenue Louis Vau 2, , Waterloo, 1410

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Pieter Hendrikus Rijneveldshek	0	2
Philip Charles Barber	0	2
Alexander Nientker	0	3
Peter Douglas Nicholson	1	1
Peter Lewis	2	24
Colin Chapman	0	3
Philippus Petrus Franciscus Clemens Houben	0	12
Leon Vliegen	0	3

NEGATIVE INFORMATION

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	SUPPLEMENTAL DEBENTURE
Date Charge Created:	20/04/11
Date Charge Registered:	03/05/11
Date Charge Satisfied:	03/04/12
Status:	SATISFIED
Person(s) Entitled:	WELLS FARGO CAPITAL FINANCE, LLC (THE AGENT)
Amount Secured:
Details:	RIGHT, TITLE AND INTEREST IN THE SUPPLEMENTAL SPECIFIED EQUIPMENT AND ALL SPAREPARTS AND REPLACEMENT S SEE IMAGE FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	23/03/11
Date Charge Registered:	05/04/11
Date Charge Satisfied:	03/04/12
Status:	SATISFIED
Person(s) Entitled:	WELLS FARGO CAPITAL FINANCE, LLC (THE AGENT)
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLU DING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFO R FULL DETAILS

Mortgage Type:	RENTAL DEPOSIT DEED
Date Charge Created:	18/02/98
Date Charge Registered:	24/02/98
Date Charge Satisfied:	05/04/11
Status:	SATISFIED
Person(s) Entitled:	M & C SWITCHGEAR LIMITED
Amount Secured:
Details:	THE COMPANYS INTEREST IN A SEPARATELY DESIGNATED INTEREST EARNING DEPOSIT ACCOUNT IN WHICH THE LANDL ORD HAS PLACED A DEPOSIT OF £15,000 PLUS VAT OR OTHER SUCH SUM

Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	28/09/94
Date Charge Registered:	01/10/94
Date Charge Satisfied:	25/02/97
Status:	SATISFIED
Person(s) Entitled:	COURTAULDS CIF NOMINEES LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE SUPPLEMENTAL TO A LEASE DATED 14 MA Y 1993
Details:	£2,625

Mortgage Type:	MORTGAGE
Date Charge Created:	10/06/88
Date Charge Registered:	13/06/88
Date Charge Satisfied:	25/02/97
Status:	SATISFIED
Person(s) Entitled:	LLOYDS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	L/H UNITS 45 TO 47 ENTERPRISE TRADING ESTATE PEDMORE ROAD DUDLEY WEST MIDLANDSAND GOODWILL FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	29/02/88
Date Charge Registered:	01/03/88
Date Charge Satisfied:	25/02/97
Status:	SATISFIED
Person(s) Entitled:	LLOYDS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	L/H UNIT L HAMBRIDGE ROAD NEWBURY BERKSHIRE. TITLE NO BK211398, TOGETHER WITH BUILDINGS & FIXTURES.A ND GOODWILL. FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQU IPMENT

SHARE & SHARE CAPITAL INFORMATION

Share Capital

£6,242,433

Top 20 Shareholders

Name	Individual Share Value
PREGIS (UK) HOLDING 1 LTD	6,242,433 ORDINARY GBP 1.00

PAYMENT INFORMATION

Payment Information Summary

Total number of Invoices available	204
Total number of Invoices paid within or up to 30 days after the due date	191
Total number of Invoices paid more than 30 days after the due date	11
Total number of Invoices currently outstanding where the due date has not yet been reached	0
Total number of Invoices currently outstanding beyond the due date	2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	9
Total Value of Documented Trade Debtors / Bad Debt -	£16,666

GROUP STRUCTURE & AFFILIATED COMPANIES

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
AEA INVESTORS LP	N/A	-	-
AEA INVESTORS LLC	N/A	-	-
AEA INVESTORS MANAGEMENT (...	03760365	31.12.2010	Y	£6,961,316
CFS HOLDING BV	N/A	-	-
CFS BV	N/A	-	-
CFS UK AND IRELAND LTD	03278948	28.02.2011	N	£19,113,000
WOLFKING LIMITED	01014797	31.12.2010	N
DIXIE-UNION (UK) LIM...	01876993	31.12.2010	N
PREGIS NV	N/A	-	-
PREGIS (UK) HOLDING I LI...	05497040	31.12.2010	N
JIFFY PACKAGING COMPAN...	00796167	31.12.2010	N	£16,521,000
PREGIS PROTECTIVE PACK...	00104001	31.12.2010	N	£25,766,000
GRAINGER SMITH LIMITED	00421802	31.12.2010	N
LSP HOLDING	B154479	-	-
LS PRECISION MANUFACTURING...	N/A	-	-
LSP HOLDING (UK) LTD	07318744	31.12.2011	Y	£101,710,000
LSP ACQUISITION (UK) LTD	07319417	31.12.2011	N
LONE STAR PRD GROUP LI...	03278811	31.12.2011	N
TRIPLEFAST MIDDLE EA...	04487912	31.12.2011	N	£16,292,000
EUROFAST PETROCHEMIC...	01952397	31.12.2011	N	£12,463,000
P.R.D. FASTENERS LIM...	01754121	31.12.2011	N	£15,324,000
PRD PRECISION ENGI...	05705449	31.12.2011	N	£712,000
TRIPLEFAST INTERNATI...	02460987	31.12.2011	N	£7,966,000
LONE STAR HOLDINGS UK...	06011438	31.12.2011	N
LONE STAR GRANGE LIM...	04496581	31.12.2011	N	£2,852,000
LONE STAR LWD PRECIS...	00370279	31.12.2011	N	£8,414,000

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2010	£25,766,000	£486,000	£8,659,000	109
31/12/2009	£22,271,000	£468,000	£7,916,000	115
31/12/2008	£24,185,000	£986,000	£7,408,000	122

Profit & Loss

Date Of Accounts	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£25,766,000	15.7%	£22,271,000	-7.9%	£24,185,000	-3.4%	£25,024,000	1.5%	£24,654,509
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£22,573,000	16%	£19,452,000	-8.3%	£21,222,000	-2.4%	£21,736,000	-0.9%	£21,933,718
Gross Profit	£3,193,000	13.3%	£2,819,000	-4.9%	£2,963,000	-9.9%	£3,288,000	20.8%	£2,720,791
Wages & Salaries	£3,262,000	0.2%	£3,254,000	-3.2%	£3,363,000	-4.1%	£3,508,000	-6.8%	£3,763,993
Directors Emoluments	£349,000	25.5%	£278,000	0.4%	£277,000	-1.1%	£280,000	-20.1%	£350,616
Operating Profit	£308,000	-2.8%	£317,000	5.3%	£301,000	-53.3%	£644,000	273.4%	£172,470
Depreciation	£325,000	-14.5%	£380,000	-0.3%	£381,000	8.9%	£350,000	-9.9%	£388,576
Audit Fees	£40,000	29%	£31,000	-	£31,000	10.7%	£28,000	5.3%	£26,600
Interest Payments	£513,000	20.4%	£426,000	-0.7%	£429,000	12.3%	£382,000	5.8%	£361,000
Pre Tax Profit	£486,000	3.8%	£468,000	-52.5%	£986,000	29.4%	£762,000	216.9%	£240,470
Taxation	-£38,000	15.6%	-£45,000	81.9%	-£249,000	-9.2%	-£228,000	2.7%	-£234,300
Profit After Tax	£448,000	5.9%	£423,000	-42.6%	£737,000	38%	£534,000	999.9%	£6,170
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£448,000	5.9%	£423,000	-42.6%	£737,000	38%	£534,000	999.9%	£6,170

Balance Sheet

Date Of Accounts	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06
Tangible Assets	£2,473,000	21.3%	£2,039,000	-10.6%	£2,282,000	-12.5%	£2,609,000	7.7%	£2,422,256
Intangible Assets	£659,000	-14.3%	£769,000	-12.5%	£879,000	-11.1%	£989,000	-10%	£1,098,975
Total Fixed Assets	£3,132,000	11.5%	£2,808,000	-11.2%	£3,161,000	-12.1%	£3,598,000	2.2%	£3,521,231
Stock	£1,781,000	17.9%	£1,511,000	0.4%	£1,505,000	-10.4%	£1,679,000	6.5%	£1,576,656
Trade Debtors	£5,159,000	17.6%	£4,387,000	2.3%	£4,287,000	-8.1%	£4,663,000	1.6%	£4,587,451
Cash	£418,000	-68.1%	£1,312,000	20.9%	£1,085,000	40.9%	£770,000	113.5%	£360,621
Other Debtors	£4,660,000	88.1%	£2,478,000	11.4%	£2,225,000	83.7%	£1,211,000	44.6%	£837,547
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£12,018,000	24.1%	£9,688,000	6.4%	£9,102,000	9.4%	£8,323,000	13%	£7,362,275
Trade Creditors	£3,932,000	34.2%	£2,930,000	-13%	£3,369,000	1.9%	£3,307,000	0.9%	£3,276,178
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£1,379,000	205.1%	£452,000	12.2%	£403,000	92.8%	£209,000	-43%	£366,511
Miscellaneous Current Liabilities	£1,180,000	-1.5%	£1,198,000	10.6%	£1,083,000	-11.7%	£1,226,000	4.3%	£1,175,690
Total Current Liabilities	£6,491,000	41.7%	£4,580,000	-5.7%	£4,855,000	2.4%	£4,742,000	-1.6%	£4,818,379
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06
Called Up Share Capital	£6,242,000	-	£6,242,000	-	£6,242,000	-	£6,242,000	-34%	£9,462,500
P & L Account Reserve	£2,417,000	44.4%	£1,674,000	43.6%	£1,166,000	24.4%	£937,000	127.6%	-£3,397,373
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£8,659,000	9.4%	£7,916,000	6.9%	£7,408,000	3.2%	£7,179,000	18.4%	£6,065,127

Other Financial Items

Date Of Accounts	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06
Net Worth	£8,000,000	11.9%	£7,147,000	9.5%	£6,529,000	5.5%	£6,190,000	24.6%	£4,966,152
Working Capital	£5,527,000	8.2%	£5,108,000	20.3%	£4,247,000	18.6%	£3,581,000	40.8%	£2,543,896
Total Assets	£15,150,000	21.2%	£12,496,000	1.9%	£12,263,000	2.9%	£11,921,000	9.5%	£10,883,506
Total Liabilities	£6,491,000	41.7%	£4,580,000	-5.7%	£4,855,000	2.4%	£4,742,000	-1.6%	£4,818,379
Net Assets	£8,659,000	9.4%	£7,916,000	6.9%	£7,408,000	3.2%	£7,179,000	18.4%	£6,065,127

Miscellaneous

Date Of Accounts	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£8,659,000	9.4%	£7,916,000	6.9%	£7,408,000	3.2%	£7,179,000	18.4%	£6,065,127
Number of Employees	109	-5.2%	115	-5.7%	122	-0.8%	123	-2.4%	126
Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code	20-07-71

Ratios

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Pre-tax profit margin %	1.89	2.10	4.08	3.05	0.98
Current ratio	1.85	2.12	1.87	1.76	1.53
Sales/Net Working Capital	4.66	4.36	5.69	6.99	9.69
Gearing %	0	0	0	0	0
Equity in %	59.80	67.50	65.10	65.70	62
Creditor Days	55.54	47.88	50.70	48.10	48.37
Debtor Days	72.88	71.70	64.52	67.82	67.73
Liquidity/Acid Test	1.57	1.78	1.56	1.40	1.20
Return On Capital Employed %	5.61	5.91	13.30	10.61	3.96
Return On Total Assets Employed %	3.20	3.74	8.04	6.39	2.20
Current Debt Ratio	0.74	0.57	0.65	0.66	0.79
Total Debt Ratio	0.74	0.57	0.65	0.66	0.79
Stock Turnover Ratio %	6.91	6.78	6.22	6.70	6.40
Return on Net Assets Employed %	5.61	5.91	13.30	10.61	3.96

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Current Company Secretary

Name	Michael Rathbone	Date of Birth	16/04/1958
Officers Title	Mr	Nationality	British
Present Appointments	12	Function	Company Secretary
Appointment Date	15/10/1991
Address	16 Eden Avenue, , Winsford, CW7 3AS

Event History

Date	Description
19/01/2012	Change of Name
15/11/2011	Annual Returns
11/11/2011	Mr L. Vliegen has left the board
17/10/2011	New Accounts Filed
17/10/2011	New Accounts Filed
21/03/2011	Mr P.H. Rijneveldshek has left the board
21/03/2011	New Board Member Mr L. Vliegen appointed
20/11/2010	Annual Returns
12/10/2010	New Accounts Filed
12/10/2010	New Accounts Filed
27/07/2010	New Board Member Mr P.H. Rijneveldshek appointed
16/03/2010	New Board Member Mr P.H. Rijneveldshoek appointed
16/03/2010	New Board Member Mr F. Gaspar appointed
29/12/2009	Annual Returns
14/12/2009	New Accounts Filed

Previous Company Names

Date	Previous Name
17/01/2012	AMBASSADOR PACKAGING LIMITED
04/11/1986	J.AND W.BALDWIN(ASTON)LIMITED

Company Name	Amount	Statement Date
J W S Merchandising Limited	£9,188	27/05/2010
Frontline Papers Limited	£2,242	12/01/2012
Pandapack Limited	£1,950	29/01/2010
1st Choice Packaging (UK) Limited	£1,605	18/03/2010
Grapho Media Limited	£864	15/02/2012
Trentpack Machinery Limited	£420	25/02/2010
A 2 Z Computer Products Limited	£162	16/05/2011
Switchgear & Controlgear Assemblies Limited	£122	29/03/2010
Direction Marketing Services Limited	£113	25/10/2010

Total Value

£16,666

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.01
UK Pound	1	Rs.87.85
Euro	1	Rs.70.54

INFORMATION DETAILS

Report Prepared by :

PRL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Name	Number	Latest Key Financials	Turnover
PACTIV		31.12.2009	€2,331,875,911
PACTIV IRISH FINANCE COMPANY	IE353199	31.12.2004
PACTIV FOREST PRODUCTS GMBH	HRB 44369	31.12.2010
PACTIV (STANLEY) LIMITED	01879930	31.12.2005
BRUCEFIELD PLASTICS LIMITED	SC088171	31.12.2005
POLBETH PACKAGING (CORBY) LIMITED	SC094734	31.12.2005
BALDWIN PACKAGING LIMITED	01269475	31.12.2005
PACTIV (LIVINGSTON) LIMITED	SC075504	31.12.2005
MSP SCHMEISER GMBH	HRB 440220	31.12.2010
PACTIV IRISH HOLDING COMPANY LIMITED	IE353120	31.12.2004
OMNI-PAC EKCO VERPACKUNGSMITTEL VERWALTUNGSGESELLSCHAFT MBH	HRB 72419	31.12.2006
PACTIV DEUTSCHLAND HOLDINGGESELLSCHAFT MBH	HRB 71774	31.12.2010
JIFFY RUGATED PRODUCTS LIMITED	00934317	31.12.2005
PENTLAND PACKAGING LIMITED	SC060431	31.12.2005
PACTIV EUROPE B.V.	32059173	31.12.2010	€111,936
PREMPACK LIMITED	01035874	31.12.2005
PACTIV LIMITED	03110630	31.12.2005
ALPHA PRODUCTS (BRISTOL) LIMITED	00467188	31.12.2010
PACTIV (CAERPHILLY) LIMITED	00649213	31.12.2010
PACTIV (FILMS) LIMITED	00973825	31.12.2010