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International Paper to acquire more packaging plants in China

US-based paper and packaging company International Paper (IP) has signed a definitive agreement to purchase the Asian packaging business of SCA, a Swedish-based consumer goods and paper company, for USD200 million in cash, subject to post-closing adjustments.

The SCA packaging business in Asia, which is primarily in China, consists of 13 corrugated box plants and 2 specialty packaging facilities. They are expected to complement IP’s manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa, as well as reinforcing the company’s presence in Asia.