International Paper Signs Agreement to Acquire Holmen Paper Madrid Mill
Plans to Convert Mill to Produce Recycled Containerboard
Brussels, Belgium /Madrid, Spain – March 16, 2016 – International Paper announced today that it has entered into a binding agreement with Holmen Paper to purchase Holmen’s newsprint mill in Madrid, Spain, and intends to convert the facility to produce recycled containerboard. Under the terms of the agreement, International Paper would purchase the Madrid newsprint Mill, as well as associated recycling operations and a 50-percent ownership interest in a cogeneration facility. The transaction is expected to close during the second quarter of 2016, subject to certain regulatory approvals.