International Paper Co. (IP), Stamford, Conn., will sell its U.K.- and Ireland-based corrugated packaging businesses to SAICA, Zaragoza, Spain. Terms weren’t disclosed. Three plants are involved in the sale, Thrapston and Winsford plants in the United Kingdom and Ashbourne in Ireland.
The transaction is expected to be complete within the next 30 to 60 days, subject to signing a fully negotiated purchase agreement that is approved by both companies’ board of directors.
SAICA currently operates five production centers and seven paper machines in France and Spain, as well at 33 box plaints in Spain, Portugal, Italy, and France.
Wednesday, November 29, 2006
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