IP Sells coated division

International Paper has just sold its coated paper division -- including four mills that sell endangered forest fibre and are some of the dirtiest mills around. It would be interesting to know how the outstanding lawsuits against International Paper for their polluting of the Androscoggin River in beautiful Maine played a part in the sale and the ongoing controversy regarding IP's use of Endangered Forest fibre from the Rocky Mountain Foothills in Alberta.

This sale will have pretty big implications for the catalog and magazine industry since IP were one of only three players in the market for the biggest magazine and catalog publishers ('roto' publishing as it is known in the biz).

Press release link via Bloomberg from the sale.