International Paper finalizes Weyerhaeuser’s Packaging purchase
August 11, 2008 By International Paper
International Paper hopes to combine the best of both companies, offering a vast network of locations to serve major industrial markets throughout the U.S. and Mexico.
“The acquisition of Weyerhaeuser is the blending of two very strong packaging businesses,” said John Faraci, chairman and CEO of International Paper. “This acquisition aligns well with our strategy to deliver improved bottom line results and further strengthen one of our company’s platform businesses.”
International Paper’s containerboard business provides nearly a million tons of containerboard to independent converting customers each year. In addition, the company is the largest exporter of containerboard in the U.S. and will continue to provide containerboard products to both domestic and international customers
“With this good, strategic business fit, we will manage a successful integration with the discipline necessary for achieving important synergies and better serving customers,” said Carol Roberts, senior vice president of International Paper’s packaging business.
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