International Paper studies sale packaging business in Brazil

The American International Paper (IP), one of the largest producers of packaging, says the sale of the corrugated packaging business in Brazil. The asset was purchased in two stages between 2012 and 2014, by R $1.27 billion, Jari Celulose and Paper packaging, of grupo Orsa. In a note sent to the newspaper, the company reported that "decided to explore strategic options for the packaging business in Brazil, including the sale of the business as a possibility". "We are in the early stages and, at this point, we have no more information about this process," said the company, adding that no comment on rumors and speculation on the subject. The packaging business of IP employs 2800 employees, with presence in three regions to ensure greater market coverage, and total production capacity of about 600,000 tons per year of packaging paper and sheets and corrugated packaging. The plants are located in Franco da Rocha (SP), Manaus (AM), Nova Campina (SP), Paulinia (SP), Rio Verde (GO) and Suzano (SP).