In a move which is being noticed by the global paper industry, International Paper made the first acquisition by an overseas company in India by acquiring Andhra Pradesh Paper Mills Ltd (APPM). IP has entered into agreements with Mr. L.N. Bangur, and related family members and affiliates to purchase approximately 53.5 percent of the outstanding shares of Andhra Pradesh Paper
There are two new writing & printing paper production capacities to hit the industry from relatively less known companies. Two recognized industry experts have associated themselves with these companies.