June 1, 2021 - International Paper has completed the sale of its ownership interest in Olmuksan International Paper to Mondi Group. The Olmuksan business includes five corrugated packaging plants with three hundred thousand tons of annual converting capacity.
IP first announced the agreement with Mondi in January of this year.
In a press release, IP said, "This transaction is in line with International Paper's strategy to serve attractive markets from an advantaged position. Corrugated packaging remains a strategic business for International Paper in EMEA."
International Paper (NYSE: IP) 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. IP, headquartered in Memphis, Tennessee, employs approximately 48,000 colleagues and serves more than 25,000 customers in 150 countries. Net sales for 2020 were $21 billion. To learn more, visit: www.internationalpaper.com.
SOURCE: International Paper
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