Weyerhaeuser Completes $6 Billion Asset Sale to IP

Feed: 118 - Date: 8/5/2008 - Views: 1,099

Aug. 4, 2008 - Weyerhaeuser today announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper for $6 billion in cash.

vote: 3.00
by 1 people - Please vote
Aug. 4, 2008 - Weyerhaeuser today announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper for $6 billion in cash.

Weyerhaeuser said it expects to use a substantial portion of the after-tax proceeds from the sale to pay down debt.

The deal includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities.

Approximately 14,000 employees will transfer from Weyerhaeuser to IP as a result of the sale.

SOURCE: Weyerhaeuser Company

See related story:


[Back to list]
Directory Categories:
New Members: ● InnovaGroup   ● HONG FU DA INDUSTRY CO.,LTD   ● SUNALIS KAGIT REKLAM SAN DIS TIC LTD STI   ● interpel   ● Natty Wood Works & Investment Ltd