International Paper has entered into an agreement to sell its corrugated packaging business in China and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise
International Paper has entered into an agreement to sell its corrugated packaging business in China and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise. International Paper’s corrugated packaging business in Asia has 18 plants and a workforce of approximately 3,000 employees. Under terms of the transaction, International Paper will receive a total of approximately RMB 1 billion (approximately US$ 150 million at the current exchange rate), subject to post-closing adjustments and other payments, including the buyer’s assumption of the liability for loans of approximately US$50 million to be paid to International Paper within six months of closing of the sale. The transaction is expected to be completed in the next few months, subject to satisfaction of closing conditions, including obtaining required governmental approvals.
The transaction is expected to be completed in the next few months, subject to satisfaction of closing conditions, including obtaining required governmental approvals. International Paper is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging along with uncoated papers and pulp. Headquartered in Memphis, Tennessee, the company employs approximately 55,000 people and is strategically located in more than 24 countries serving customers worldwide. The company’s net sales for 2015 were US$ 22 billion.
Packaging South Asia is the cooperating media partner for drupa 2016 which is scheduled to be held from 31 May to 10 June at Dusseldorf, Germany
The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.
The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.
Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.
As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.
It is the right time to support our high-impact reporting and authoritative and technical information with some of the best correspondents in the industry. Readers can power Packaging South Asia’s balanced industry journalism and help sustain us by subscribing.
