International Paper is selling off its Industrial Papers Business. For a sum of $180 million, Kohlberg and Company…
International Paper is selling off its Industrial Papers Business. For a sum of $180 million, Kohlberg and Company LLC will own the lightweight packaging papers and pressure sensitive papers segments and related converting assets.
Also included in the sale are paper mills in DePere and Kaukauna, WI, the Akrosil business with paper converting facilities in Menasha, WO, Lancaster, OH, and Herleen in the Netherlands. Thilmany Packaging, located at the Kaukauna Mill, is also part of the agreement package. Roughly 1,400 people are employed at these operations.
Additionally, the agreement will provide IP with a supply contract to produce lightweight specialty papers at its Androscoggin mill in Maine. Both companies are expecting the sale to close in the second quarter of 2005
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