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Weyerhaeuser wraps up sale

Weyerhaeuser has wrapped up the sale of its containerboard, packaging and recycling business to International Paper…

Weyerhaeuser has wrapped up the sale of its containerboard, packaging and recycling business to International Paper. The $6 billion deal includes nine containerboard mills, 72 packaging facilities, 10 specialty packaging plants, four Kraft bag and sack locations, and 19 recycling plants.

A total of 14,300 workers are employed by the Weyerhaeuser division, Bizjournals reported.

Weyerhaeuser has said it plans on using a substantial chunk of the capital to pay down its debt.