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IP Completes Mill Divestitures

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International Paper, Memphis, Tenn., USA, this week announced that it has finalized the sale of its Ontario and Oxnard, Calif., containerboard mills to New-Indy Containerboard LLC, along with its New Johnsonville, Tenn., containerboard mill to Hood Container Corp. By completing these transactions, the company satisfies its divestiture obligations under its February 2012 settlement agreement with the U.S. Department of Justice.

The settlement agreement, in which the company agreed to divest the three mills, was entered into in connection with the company's acquisition of Temple-Inland.

 
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