International Paper has agreed to sell its Brazilian corrugated packaging business to local packaging company Klabin. International Paper is also entitled to receive an additional BRL50m ($9.7m) a year after closing, subject to certain adjustments. However, International Paper will retain its Papers and Forestry businesses in Brazil. Headquartered in the US state of Tennessee, International Paper specialises in producing renewable fibre-based packaging, pulp and paper products. Earlier this month, International Paper announced its Covid-19 response as the US struggles to contain the spread of the coronavirus.
Source: The North Africa Journal March 30, 2020 15:22 UTC