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International Paper completes sale of mills to satisfy DOJ agreement


International Paper and US Department of Jusitce agreement

International Paper announced yesterday that it has finalised the sale of three containerboard mills under the terms of a US$470m (€373m) divesture agreement with the US Department of Justice (DOJ).

The mills in Ontario and Oxnard, California have been sold to New-Indy Containerboard, a joint venture between The Kraft Group and Schwarz Partners.

The formerly owned Temple-Inland containerboard mill in New Johnsonville, Tennessee has been bought by Hood Container Corporation.

The firm had to sell the sites under a 950,000 ton agreement in February with the DOJ, relating to competition concerns after the $4.3bn takeover of Temple-Inland completed in February this year.

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