International Paper, Memphis, Tenn., USA, this week completed two previously disclosed transactions – the sale of its corrugated packaging business in China and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise, and the acquisition of the Holmen Paper Madrid Mill in Spain. The company plans to convert the newsprint machine to produce recycled containerboard during the second half of 2017.  

International Paper is a producer of 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. The company employs approximately 55,000 people and is strategically located in more than 24 countries serving customers worldwide. IP’s net sales for 2015 were $22 billion.