International Paper Closes Sale Of Beverage Packaging Operations
Source: Packaging Digest

02/01/07 | (FinancialWire) International Paper (NYSE: IP) has closed the sale of its North American beverage packaging operations to New Zealand-based Carter Holt Harvey Ltd. for around $413 million. The North American beverage packaging assets include gable-top beverage converting facilities in the U.S. and Canada, the firms Evergreen Packaging manufacturing facility in Iowa, and its Pine Bluff mill in Arkansas. IP also has beverage packaging units in China, South Korea and Taiwan, and joint ventures in Latin America, Israel, and Saudi Arabia. The sale of these assets to Carter Holt Harvey is expected to close later in the first quarter. Memphis, Tennessee-based International Paper is currently transforming its operations to focus on its global uncoated papers and packaging businesses, which operate and serve customers in the U.S., Europe, Latin America and Asia, as well as xpedx, an extensive North American merchant distribution system.

Distributed for Investrend Communications, Inc. via M2 Communications Ltd