MEMPHIS, Tenn., June 30, 2016 /PRNewswire/ -- International
Paper (NYSE: IP) today announced that it has completed two
previously disclosed transactions – the sale of its corrugated
packaging business in China and
Southeast Asia to Xiamen Bridge
Hexing Equity Investment Partnership Enterprise; and the
acquisition of the Holmen Paper Madrid Mill in Spain. The
Company plans to convert the newsprint machine to produce recycled
containerboard during the second half of 2017.
About International Paper
International Paper (NYSE: IP) is a global leader in packaging
and paper with manufacturing operations in North America, Europe, Latin
America, Russia,
Asia and North Africa. Its businesses include
industrial and consumer packaging along with uncoated papers and
pulp. Headquartered in Memphis,
Tenn., the company employs approximately 55,000 people and
is strategically located in more than 24 countries serving
customers worldwide. International Paper net sales for 2015 were
$22 billion. For more information
about International Paper, its products and stewardship efforts,
visit internationalpaper.com.
Certain statements in this press release may be considered
forward-looking statements. These statements reflect Company
management's current views and are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in these statements. Factors which
could cause actual results to differ include but are not limited to
(i) industry conditions; (ii) global economic conditions and
political changes; and (iii) other factors that can be found in the
Company's press releases and Securities and Exchange Commission
filings. The Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE International Paper