International Paper said it would sell its recently acquired Champion paper mill in Hamilton as well as its mill on Dayton Street in separate transactions.
The move is part of $3 billion in assets the company says will be sold because they no longer fit its long-term objectives.
International Paper's Dayton Street mill will be sold as part of a sale of its entire fine papers division.
The B Street Champion mill, Hamilton's largest industrial employer, was acquired when International Paper purchased Champion International in June in a $9.5 billion bidding war with a Finnish company.
Champion has been trying to sell the 106-year-old B Street mill for two years.
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