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IP closes Fine Papers deal

International Paper has completed the sale of its Fine Papers business. Mohawk Paper Mills now owns the writing, te…

International Paper has completed the sale of its Fine Papers business. Mohawk Paper Mills now owns the writing, text, cover and artist papers segments of the division. Also included in the sale are the Hamilton, OH paper mill, the Saybrook, OH converting centre and the Westfield, MA artist papers converting operation. Roughly 500 people are employed by the business.

Although the transaction is still subject to certain adjustments, International Paper expects it will receive approximately $60 million from the sale.