Antitrust Radar

FY2024 acquired-entity profile / published 3-digit NAICS

32231-33Manufacturing

Paper Manufacturing

This release row records 9 adjusted HSR transactions, 4 agency clearances, and 0 Second Requests. It describes acquired-entity classification inside one federal report, not an industry merger rate or a legal antitrust market.

Locate in atlas Compare releases Exact row
Position in FY2024 Table XIRank 32 of 83
Highest adjusted countLowest
Published share
0.5%
-0.1 pp from FY2023
Sector position
12 / 20
2.2% of sector transactions
Paper Manufacturing2.2%
9 row409 sector
Adjusted transactions
9
0.5% published share
Agency clearances
4
0 FTC / 4 DOJ
Second Requests
0
0.0% of row count
Intra-industry flags
1
11.1% of row count
Release continuity
2 / 2
Stable code and label
Position in FY2024 Table XI

Rank 32 of 83

Transactions
9
0.5% share
Clearances
4
0 FTC / 4 DOJ
Second Requests
0
0.0% of row
Intra-industry
1
11.1% of row
Continuity
2 / 2
Stable code and label

Adjacent official releases

Same-code release continuity

Stable code and label

The same 3-digit code and published label appear in FY2023 and FY2024.

FY2023322Paper Manufacturing9 transactions / 0.5%FY2024322Paper Manufacturing9 transactions / 0.5%
Adjusted transactions
FY20239FY20249
0
Published share
FY20230.5%FY20240.5%
0 pp
Agency clearances
FY20231FY20244
+3
Second Requests
FY20231FY20240
-1
Intra-industry flags
FY20230FY20241
+1

Release-to-release sector shifts aggregate each edition's exact published rows inside stable broad NAICS sectors. They are descriptive changes in the federal review pipeline, not merger rates, market-power measures, or causal estimates. Industry codes and labels that enter, exit, or change between tables remain explicit rather than being silently crosswalked.

Published review-stage record

Agency lanes stay separate

FY2024 / exact Table XI fields

Clearances and Second Requests are administrative review stages. Their counts and row-level rates do not indicate liability, remedy, competitive harm, or agency effectiveness.

Agency clearances4Rank 8 of 83
Federal Trade Commission
0
Department of Justice
4
44.4% clearances / row count
Second Requests0Rank 6 of 83
Federal Trade Commission
0
Department of Justice
0
0.0% Second Requests / row count
Intra-industry flags1Rank 7 of 83
Flagged transactions
1
Other row transactions
8
11.1% of row count

An intra-industry transaction means the acquiring and acquired persons both reported revenue in the same 3-digit NAICS code. It does not establish a horizontal overlap, relevant antitrust market, or competitive effect.

Sector peer field

Manufacturing

20 published rows / common count scale

Peers share this report's broad NAICS sector. Ordering uses adjusted transaction count within FY2024; it is not a ranking of market power, importance, or enforcement priority.

  1. 01325Chemical Manufacturing562.8%
  2. 02334Computer and Electronic Product Manufacturing472.4%
  3. 03311Food Manufacturing462.3%
  4. 04336Transportation Equipment Manufacturing422.1%
  5. 05333Machinery Manufacturing412.1%
  6. 06339Miscellaneous Manufacturing301.5%
  7. 07332Fabricated Metal Product Manufacturing281.4%
  8. 08335Electrical Equipment, Appliance, and Component Manufacturing231.2%
  9. 09324Petroleum and Coal Products Manufacturing191.0%
  10. 10326Plastics and Rubber Products Manufacturing150.8%
  11. 11327Nonmetallic Mineral Product Manufacturing110.6%
  12. 12312Beverage and Tobacco Product Manufacturing90.5%
  13. 13322Paper Manufacturing90.5%
  14. 14331Primary Metal Manufacturing90.5%
  15. 15323Printing and Related Support Activities80.4%
  16. 16321Wood Product Manufacturing60.3%
  17. 17313Textile Mills30.2%
  18. 18315Apparel Manufacturing30.2%
  19. 19337Furniture and Related Product Manufacturing30.2%
  20. 20314Textile Product Mills10.1%
Open the complete sector in the composition atlasPreserve FY2024, sector 31-33, and selected NAICS 322.

Classification passport

Exact labels before analytical joins

Code identity is not a silent crosswalk

The release label, adjacent-release label, and Census 2022 label are shown independently. A matching code supports navigation; it does not prove statistical continuity when labels or source universes differ.

Selected HSR releaseFY2024 / 322

Paper Manufacturing

47th Hart-Scott-Rodino Annual Report (FY 2024)
Adjacent HSR releaseFY2023 / 322

Paper Manufacturing

Stable code and label
2022 Economic Census2022 / 322

Paper manufacturing

Same normalized code and label
Economy-wide structure context

Paper manufacturing

Open Census industry profile
Firms
2,301
Employees
347,651
Revenue
$220.3B
CR4
32.5%
HHI
348.3
A NAICS industry is a statistical classification, not a legally defined antitrust market. Use these national revenue concentration measures to screen where deeper product and geographic market analysis may be warranted, not to infer market power or liability.

Evidence custody

One official row, reproducible handoffs

Source checked Aug 14, 2026
Official source

47th Hart-Scott-Rodino Annual Report (FY 2024)

Federal Trade Commission and U.S. Department of Justice

Federal Trade Commission and U.S. Department of Justice Antitrust Division, 47th Hart-Scott-Rodino Annual Report, Fiscal Year 2024, September 2025.Open source dossier

The FY2023 and FY2024 acquired-entity tables classify adjusted HSR transactions by 3-digit NAICS. They describe the federal review pipeline, not industry-wide merger rates, market definitions, competitive harm, or agency performance. Published row shares are independently rounded to one decimal place and therefore sum to 100.3% and 101.5%, respectively, while each official table total remains 100.0%.