5 June 2006 — New York (NY): International Paper has agreed to sell its coated and supercalendered papers business to private equity firm Apollo Management LP for about $1.37 billion in cash.
The deal, which includes four paper mills, is part of ongoing restructuring by the company. The mills, which make paper for magazines, catalogues and annual reports, are in Maine, Michigan and Minnesota.
Look out for the in-depth report into the current state of the paper industry in July’s edition of OPI magazine
