MEDIA RELEASE PR40260
International Paper Finalizes Purchase of SCA Packaging Asia Business
MEMPHIS, Tenn., July 1 /PRNewswire-AsiaNet/ --
Strengthens International Paper's Industrial Packaging Business
in Asia
International Paper (NYSE: IP) has completed the purchase of SCA Packaging Asia
for approximately US$ 200 million, subject to post-closing adjustments.
(Logo: http://photos.prnewswire.com/prnh/20020701/IPLOGO )
"This acquisition strengthens International Paper's industrial packaging
business in China -- the largest corrugated market in the world, and it
extends our presence in Southeast Asia," said Paul Brown, president,
International Paper Asia. "We have an experienced leadership team in place
and our business will now be more competitive and better able to serve
customers in this fast growing region of the world."
International Paper's industrial packaging business in Asia now has 27
plants, including 21 facilities in China, and operations in Thailand,
Malaysia, Singapore and Indonesia.
About International Paper
International Paper (NYSE: IP) is a global paper and packaging company
with manufacturing operations in North America, Europe, Latin America,
Russia, Asia and North Africa. Its businesses include uncoated papers,
industrial and consumer packaging and distribution. Headquartered in Memphis,
Tenn., the company employs more than 60,000 people in more than 20 countries
and serves customers worldwide. 2009 net sales were more than $23 billion.
For more information about International Paper, its products and stewardship
efforts, visit internationalpaper.com.
SOURCE: International Paper
CONTACT: Media: Patty Neuhoff,
+1-901-419-4052,
or Rick Ouellette,
+1-901-419-4274;
Investor Relations: Tom Cleves,
+1-901-419-7566,
or Emily Nix,
+1-901-419-4987
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