IP To Sell Pine Bluff Mill To CHH Affiliate

Pine Bluff, AR - International Paper (IP) has reportedly agreed to sell its Pine Bluff, AR, mill to Rank Group Australia, an affiliate of Carter Holt Harvey of New Zealand. According to the Pine Bluff Commercial, the actual sales agreement has not yet been negotiated and the sales price has not been determined. Employees were informed of the company's plans last Friday, October 13, the newspaper reported. The sale of the mill is part of a restructuring plan announced by IP in July 2005.

The Pine Bluff mill produces approximately 1,000 tpd of bleached board used for beverage cartons, supplying one-third of the world's gable-top board market and 48% of the domestic liquid packaging market. The mill, which also produces coated publications papers, operates two paper machines, four extruders, one off-machine coater, and two supercalendars. It has some 1,100 employees.

SOURCE: TAPPI