IP now holds a 20.5% ownership interest in the subsidiary of Graphic Packaging that holds the assets of the combined business.

The transferred business includes approximately 3,900 employees, two coated paperboard mills and three converting facilities in the U.S., along with one converting facility in the U.K.

International Paper is a global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia.

The group employes approximately 52,000 persons located in more than 24 countries. Net sales for 2016 were $21 billion.

All rights reserved except agreement written by Emballage Digest or mention of the magazine