MEMPHIS, Tenn., April 30, 2015 /PRNewswire/ -- International Paper (NYSE: IP) today announced it has finalized the previously announced sale of the Carolina® coated bristols brand to MeadWestvaco. As part of the sale agreement and to ensure a smooth transition for customers, International Paper will manufacture Carolina branded products for MWV until the end of year. Financial terms of the sale were not disclosed.
International Paper's coated paperboard and printing papers businesses are strategic to the company's global portfolio. The company will continue to manufacture coated paperboard products to support customer demand in the food service and packaging markets. The company's commercial print portfolio, which includes the Hammermill®, Accent® Opaque, Williamsburg Offset and the Springhill® brands, will continue to be a valued part of International Paper's merchant product portfolio.
About International Paper
International Paper (NYSE: IP) is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging along with uncoated papers and pulp. Headquartered in Memphis, Tenn., the company employs approximately 58,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2014 were $24 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.
SOURCE International Paper