International Paper has entered into an agreement to sell its Brazilian corrugated packaging business to Klabin S.A. for R$330 million, with R$280 million to be paid at closing and R$50 million one year thereafter, subject to certain adjustments. This business includes three containerboard mills and four box plants. This agreement follows International Paper’s previously announced strategic review of the Brazil packaging business.The transaction is expected to close in the second half of 2020, subject to certain closing conditions and regulatory approvals. The company will continue to run its Papers and Forestry businesses in Brazil.
RELATED NEWS
PaperFIRST Mag #10 is available for download
May 17, 2024
Xeikon and Sappi in sweet collaboration
May 16, 2024
A photovoltaic network that keeps growing for CMPC
May 15, 2024
Nordic Paper chooses digital solution from AFRY
May 15, 2024
Essity invests in new R&D center in France
May 14, 2024