International Paper Acquires Two Corrugated Packaging Plants in Spain

March 30, 2021 - International Paper today announced that it has purchased two state-of-the-art corrugated box plants in Spain, further growing its capabilities in Madrid and Catalonia, the largest industrial regions in the country.

Terms of the transactions were not disclosed.

In a written statement, International Paper said, "Corrugated packaging is a strategic business for International Paper in EMEA and offers customers high-quality packaging solutions in the industrial, fresh fruit and vegetable, and e-commerce segments."

The two businesses will become part of International Paper effective April 1, 2021.

International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia. IP, headquartered in Memphis, Tennessee, employs approximately 48,000 colleagues and serves more than 25,000 customers in 150 countries. Net sales for 2020 were $21 billion. To learn more, visit: www.internationalpaper.com.

SOURCE: International Paper and Mayr-Melnhof Group