International Paper (IP) announced that it has signed a definitive agreement to acquire SCA’s Asian packaging business for USD 200 million in cash. In 2009, SCA’s Asian operation reported sales of approximately USD 250 million and had approximately 4,500 employees in China, Singapore, Malaysia and Indonesia. International Paper said SCA’s facilities, which include 13 corrugated box plants and two specialty packaging plant located mainly in China, complement IP’s existing converting system of corrugated box plants, and will make the company more competitive and profitable. “We divest our packaging business in Asia in line with our strategy, to focus on our hygiene products there”, says Jan Johansson, President andCEOof SCA.
