International Paper is negotiating to sell part of its overseas business to Metsa-Serla. IP announced it is entering into exclusive negotiations with Finland's Metsa-Serla for the sale of International Paper's stake in Zanders Feinpapiere. The two sides expect to come to terms by the end of next month.
The decision follows IP's plans to sell more than $3 billion in assets by the end of next year under a plan to strengthen core businesses.
Metsa-Serla is the fifth largest forest industry and paper products company in Europe. It is the largest provider of coated and uncoated fine paper in Europe. Zanders is a major European producer of coated fine paper. The company, with two production facilities in Germany, has a total annual capacity of around 450,000 tons.
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