International Paper announced the completion of the divestiture of five European plants to PALM Group to satisfy regulatory commitments from its acquisition of DS Smith Plc. The sale includes three plants in Normandy, France (namely, one box plant in Saint-Amand, one box plant in Mortagne, and one sheet plant in Cabourg); one box plant in Ovar, Portugal; and one box plant in Bilbao, Spain.
The sale of these facilities was agreed to with the European Commission as a remedy for International Paper's acquisition of DS Smith Plc.
As a result, International Paper has satisfied all of its obligations towards the European Commission in connection with the acquisition of DS Smith Plc.
International Paper is the global leader in sustainable packaging solutions.
PALM is a family-owned company with its headquarter in Aalen,Germany. PALM is one of the leading European producers of containerboard, graphic paper and corrugated packaging. PALM operates 5 paper mills and now 33 corrugated box plants in Europe.
