International Paper Reportedly Considering Sale of Corrugated Packaging Business in Brazil
Oct. 29, 2018 - International Paper has reportedly confirmed that it is considering options to sell its Brazilian cardboard packaging unit.
Brazilian newspaper Valor Economico reported the potential sale on Oct. 25 citing sources. The newspaper said the unit is not profitable.
Reuters followed up on the Valor Economico story and in a statement, IP told Reuters, “It is exploring strategic options for the packaging business in Brazil, including a potential sale.”
According to International Paper's website, its packaging business in Brazil consists of three packaging paper mills, located in the State of São Paulo, and four units producing corrugated cardboard packaging and sheets: two in the State of São Paulo, one in Goiás and one in Amazonas.
SOURCES: Valor Economico, Reuters, and International Paper