International Paper Selling UK Corrugated Packaging Businesses
Nov. 27, 2006 - International Paper today announced that it has agreed
to sell its corrugated packaging businesses in the United Kingdom (Thrapston and Winsford
plants) and Ireland (Ashbourne plant) to SAICA, one of the leading operators in the European
packaging market, headquartered in Zaragoza, Spain.
IP expects to complete the deal within the next 30 to 60 days, subject to signing a fully negotiated purchase
agreement that will be subject to normal closing conditions, as well as to approval by both
companies’ board of directors.
“We are committed to growing our corrugated business in Europe,” said Paul Brown, vice
president of International Paper’s European container business. “However, we have to make
choices as to where to focus our efforts.”
SAICA operates five production centres and seven paper machines in France and Spain, as
well as 33 box plants in Spain, Portugal, Italy and France.
SOURCE: International Paper