Effective July 2016, International Paper acquired Holmen’s newsprint mill in Madrid, Spain, as well as associated recycling operations and a 50-percent ownership interest in a cogeneration facility. The intention is to convert the mill during the second half of 2017 to produce recycled containerboard with an expected capacity of 380,000 metric tonnes. Until the conversion, the mill continues to make newsprint, commercialized by Holmen.
The acquisition of the Madrid Mill is a significant investment into the future of our corrugated packaging business in EMEA, our customers, our employees, and our communities.
It is strategically located to support our corrugating facilities throughout EMEA and, once completed, the converted mill will enable us to further enhance our value proposition and offer our customers even more choices in terms of innovative, tailored and high performing packaging solutions.