International Paper Completes the Sale of Its Brazilian Corrugated Packaging Business
International Paper (NYSE: IP) has successfully completed the sale of its Brazilian corrugated packaging business to Klabin S.A..
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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.
Details
News Market Reaction – IP
The recorded move for IP in the trading session of this news was +1.48%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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SOURCE International Paper
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