MULLIGAN, Circuit Judge:
This is an appeal by Packaging Industries, Inc. (Packaging) from an order of Hon. Lloyd F. MacMahon, United States District Judge for the Southern District of New York, which granted the application of Diematic Manufacturing Corp. (Diematic) to stay arbitration proceedings and denied Packaging's cross-motion for a stay of the federal action pending arbitration.
In 1965, Packaging commenced an action against Diematic in the court below...
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