IP to sell industrial unit


15 March 2005 – Stamford (CT): International Paper (IP) has agreed to sell its industrial papers business to Kohlberg for about $180 million.

The business includes paper mills in DePere and Kaukauna, Wisconsin, and paper converting facilities in Menasha, Wisconsin, Lancaster, Ohio, and Heerlen, Netherlands. The operations employ about 1,400 workers.

It is anticipated that the deal will close in Q2.