International Paper (NYSE: IP) has entered into an agreement to sell its 90.38% ownership interest in Olmuksan International Paper to Mondi Group for approximately €66 million. The Olmuksan business includes corrugated packaging facilities in Turkey with an approximate annual revenue of TRY1,093 million (€150 million). The transaction is expected to close in the first half of 2021, subject to certain closing conditions and regulatory approvals. This action is in line with International Paper’s strategy to serve markets from an advantaged position. Corrugated packaging remains a strategic business for International Paper in EMEA.
https://internationalpaper2015.q4web.com/news-releases/press-r/2021/International-Paper-Reaches-Agreement-to-Sell-Its-Corrugated-Packaging-Business-in-Turkey/default.aspx
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Graphic Packaging Holding Company announced that its wholly-owned subsidiaries, Graphic Packaging International, Inc. and Graphic Packaging International Canada, ULC, have agreed to acquire the assets of Seydaco Packaging Corp. and its affiliates National Carton and Coating Co., and Groupe Ecco Boites Pliantes Ltée. Seydaco is a folding carton producer with a leading position in Canada focused on the foodservice, food, personal care, and household goods markets. Seydaco converts approximately 20,000 tons of paperboard annually and operates three converting plants located in Mississauga, Ontario, St.-Hyacinthe, Québec, and Xenia, Ohio. The business generated revenues of approximately $40 million and low double digit EBITDA margins on an LTM basis. Click Read More below for additional information.