Memphis, Tennessee, USA, 30 June 2010 -- /PRNewswire/ -- International Paper (NYSE: IP) has completed the purchase of SCA Packaging Asia for approximately USD 200 million, subject to post-closing adjustments.
"This acquisition strengthens International Paper's industrial packaging business in China -- the largest corrugated market in the world, and it extends our presence in Southeast Asia," said Paul Brown, president, International Paper Asia. "We have an experienced leadership team in place and our business will now be more competitive and better able to serve customers in this fast growing region of the world."
International Paper's industrial packaging business in Asia now has 27 plants, including 21 facilities in China, and operations in Thailand, Malaysia, Singapore, and Indonesia.
lnternational Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Its businesses include uncoated papers, industrial and consumer packaging, and distribution. Headquartered in Memphis, Tennessee, the company employs more than 60,000 people in more than 20 countries and serves customers worldwide. Net sales for 2009 were more than USD 23 billion. For more information about International Paper, its products, and stewardship efforts, visit internationalpaper.com.