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."
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