MEMPHIS, Tenn., Jan. 2, 2018 /PRNewswire/ -- International Paper
(NYSE: IP) today announced that it has completed the transfer of
its North America Consumer Packaging business to Graphic Packaging.
As a result of the transaction, Graphic Packaging has assumed
$660 million of IP debt. IP now holds
a 20.5% ownership interest in the subsidiary of Graphic Packaging
that holds the assets of the combined business. The transferred
business includes approximately 3,900 employees, two coated
paperboard mills and three converting facilities in the U.S., along
with one converting facility in the U.K.
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 world-wide 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.,
and employ approximately 52,000 colleagues located in more than 24
countries. Net sales for 2016 were $21
billion. For more information about International Paper, our
products and global citizenship efforts, please visit
internationalpaper.com.
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SOURCE International Paper