International Paper Completes the Sale of Its Corrugated Packaging Business in Turkey

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May 31, 2021, 11:00 ET

MEMPHIS, Tenn., May 31, 2021 /PRNewswire/ -- International Paper (NYSE: IP) has completed the sale of its ownership interest in Olmuksan International Paper to Mondi Group. The Olmuksan business includes five corrugated packaging plants with three hundred thousand tons of annual converting capacity. This transaction is in line with International Paper's strategy to serve attractive markets from an advantaged position. Corrugated packaging remains a strategic business for International Paper in EMEA.

About International Paper

International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia. We produce corrugated packaging products that protect and promote goods, and enable world-wide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness; and papers that facilitate education and communication. We are headquartered in Memphis, Tenn., employ approximately 48,000 colleagues and serve more than 25,000 customers in 150 countries. Net sales for 2020 were $21 billion. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com

SOURCE International Paper