International Paper Announced Sale of Kwidzyn Pulp and Paper Mill
Paper Recycling | 2021-02-15 21:13:23
The company had reported sales of €510m during the previous year.
By Paul Ploumis
SEATTLE (Scrap Monster): Vancouver, B.C.-based International Paper (IP) announced that it has reached an agreement with Mayr-Melnhof Karton AG towards sale of its Kwidzyn pulp, paper and board mill and supporting operations in Poland. The all-cash, debt-free deal worth approximately $812 million is subject to closing adjustments.
The press release issued by IP noted that the Polish mill employs approximately 2,300 people and has a production capacity of 740,000 metric tons of folding boxboard, uncoated woodfree paper, specialty kraft papers, and market pulp per annum. The company had reported sales of €510m during the previous year.
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The mill complex has a total of four machines. One board machine produces folding boxboard and has an annual capacity of 260,000 metric tons. In addition, the IP mill also runs a kraft paper machine with 76,000 metric tons per year capacity and two fine paper machines whose combined capacity amounts to 410,000 metric tons per year of woodfree uncoated paper.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close during third quarter this year. IP declared that it will engage in a consultation process with appropriate employee representatives at the earliest.
