International Paper Completes the Sale of Its Brazilian Corrugated Packaging Business

Rhea-AI Summary

International Paper (NYSE: IP) has successfully completed the sale of its Brazilian corrugated packaging business to Klabin S.A.. This business comprised three containerboard mills and four box plants. Despite this divestiture, International Paper will maintain its operations in the papers and forestry sectors within Brazil. The company continues to focus on its core products, including renewable fiber-based packaging, pulp, and paper, contributing to its standing as a global leader in the industry.

Positive

• Completion of the sale of Brazilian corrugated packaging business to Klabin S.A.
• Continued operations in papers and forestry sectors in Brazil.

Negative

• None.

MEMPHIS, Tenn., Oct. 14, 2020 /PRNewswire/ -- International Paper (NYSE: IP) today announced that it completed the previously disclosed sale of its Brazilian corrugated packaging business to Klabin S.A. The business has three containerboard mills and four box plants. The company will continue to run its papers business and forestry operations in Brazil.  

About International Paper

International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia. We produce corrugated packaging products that protect and promote goods, and enable worldwide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness; and papers that facilitate education and communication. We are headquartered in Memphis, Tenn., employ more than 50,000 colleagues and serve more than 25,000 customers in 150 countries. Net sales for 2019 were $22 billion. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com.

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SOURCE International Paper

FAQ

What recent sale did International Paper complete?

International Paper completed the sale of its Brazilian corrugated packaging business to Klabin S.A.

What operations will International Paper continue in Brazil after the sale?

International Paper will continue its papers business and forestry operations in Brazil.

How many mills and plants were involved in the sale?

The sale included three containerboard mills and four box plants.

What is the stock symbol for International Paper?

The stock symbol for International Paper is IP.