Strategic shuffle continues in plastic container market.(Graham Packaging Co. plans initial public offering)(Brief Article)

Ending a busy week in which a handful of packaging companies announced public offerings, Graham Packaging Co., L.P., York, PA, has filed a registration statement with the Securities & Exchange Commission (SEC) for an initial public offering (IPO) of common stock valued at $250mn. Underwriters will be granted an option to purchase an additional $37.5mn shares of common stock to cover overallotments, if any.

This is the second plastic container maker to file an IPO registration in a week. Crown Cork & Seal's wholly-owned PET container maker subsidiary Constar filed with the SEC a few days earlier (P.S., Fax Alert 5/23/02).

This is Graham's second attempt at an …