IP sells 13 paper mills

30 November 2006 — Vancouver (CAN): International Paper (IP) is to sell 13 US lumber mills to West Fraser Timber for roughly $325 million.

The sales will make West Fraser, the second biggest lumber producer in North America.

 

IP spokesman Amy Sawyer, said: "We thoroughly explored our options and we believe this is the best deal for both parties."

 

IP continues to explore the possible sale of its remaining wood operations in the US.