Monday, October 16, 2006

International Paper Sells Beverage Packaging Unit

In another big move for North America's largest paper manufacturer, International Paper (NYSE: IP) announced the sale of its beverage packaging unit to New Zealand based Carter Holt Harvey, a former partner of IP's in ArborGen the world's leading genetically engineered trees R&D company.
This sale focuses on the company's mill in Pine Bluff, AR which produces 1/4 of the world's beverage packaging and continues a trend in divestment by the company to allow the company to focus on uncoated packaging and printing and writing paper.

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