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It’s a wrap for IP

International Paper has wrapped up the sale of its Industrial Papers business. The new owner is an affiliate of Koh…

International Paper has wrapped up the sale of its Industrial Papers business. The new owner is an affiliate of Kohlberg & Company, LLC. Although adjustments still have to be made, IP expects to pocket roughly $180 million from the deal.

The business segment includes the lightweight packaging papers and pressure sensitive papers segments and related converting assets. Also included are the DePere and Kaukauna Mills, the Akrosil business and Thilmany Packaging. An agreement to manufacture lightweight specialty papers produced at IP’s Androscoggin, ME mill was also factored into the transaction.