Market: Packaging Paper & Board
Posted January 2, 2018
International Paper (IP) has completed the transfer of its North America Consumer Packaging business to Graphic Packaging, as the company said in the press release received by Lesprom Network.
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.
International Paper 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.