International Paper has acquired SCA packaging for $200m to strengthen its foothold in Asia, by being more competitive in servign customers of the region.
International Paper, a company based in Memphis, has acquired SCA Packaging, previously owned by Svenska Cellulosa, a Sweden based packaging company. International Packaging paid about $200m towards the transaction, which is subject to post closing adjustments.
The plan for the acquisition of SAC Packaging by International Packaging was previously announced in the month of April 2010 and is completed in July 2010.
This deal strengthens the position of International Packaging in China. International Paper is a global paper and packaging company with operations in more than 20 countries.
International Packaging, which deals in corrugated packaging has 27 plants in Asia and includes operations in Thailand, Malaysia, Singapore and Indonesia.
Paul Brown, president of International Paper Asia, said: “We have an experienced leadership team in place and our business will now be more competitive and better able to serve customers in this fast growing region of the world.”
SCA packaging consists of 13 corrugated box plants and two specialty packaging facilities.