Weyerhaeuser completes $6 billion asset sale to International Paper
8. /Lesprom.com/. Weyerhaeuser announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper for $6 billion in cash. The deal includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities.
Aug 04, 2008. /Lesprom.com/. Weyerhaeuser announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper for $6 billion in cash. Weyerhaeuser said it expects to use a substantial portion of the after-tax proceeds from the sale to pay down debt.
The deal includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities. Approximately 14,000 employees will transfer from Weyerhaeuser to International Paper as a result of the sale.