India, April 16 -- International Paper (IP, IPC.L) on Thursday said it has agreed to acquire North Pacific Paper Company (NORPAC) from One Rock Capital Partners for $360 million.
NORPAC operates a paper mill in Longview, Washington, employing about 500 people and producing roughly one million tons of containerboard and other paper grades annually.
International Paper said the acquisition will enhance its mill system, improving flexibility, reducing costs and expanding its ability to meet growing demand for lightweight, high-performance recycled containerboard.
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"This acquisition is a strong strategic fit for our business and supports our long-term value ...