Monday, February 13, 2012

IP to sell three mills, Mercer makes offer for Fibrek

International Paper will divest three containerboard mills in California and Tennessee as part of an agreement with the U.S. Department of Justice (DOJ) over the acquisition of Temple-Inland. The three mills have a combined containerboard production capacity of 970,000 tons. The agreement calls for the sale of the mills within four months, with the possibility of two 30-day extensions.

Meanwhile, the president and CEO of Fibrek Inc. has endorsed a takeover offer from Mercer International Inc. Fibrek suitor Resolute Forest Products responded by upping its previous offer for the company. Along with a paper mill in Quebec, Fibrek operates two recycled pulp mills in Michigan and West Virginia.

Fibrek also has announced five weeks of downtime at its Fairmont, W. Va. mill.

For complete details, visit Paper Recycling Online.

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