International Paper Acquires Europac’s Tangier, Morocco Facility
Casablanca, Morocco / Brussels, Belgium, June 28, 2017 - International Paper announced today that it signed an agreement to acquire Europac’s Tangier box plant for 40 MM Euros. With this acquisition, the company expects to realize significant synergies in its box system in Morocco as well as from the paper integration with the recently acquired Madrid, Spain, mill and its existing recycled containerboard mill in Kenitra, Morocco. International Paper obtained all relevant approvals by Moroccan authorities, including antitrust approval. Closing of the transaction is expected for the end of June.