The $2.2 billion deal with International Paper completes Weyerhaeuser’s divestiture of its Cellulose Fibers business.
Weyerhaeuser said it completed the sale of its Cellulose Fibers pulp mills to International Paper.
The $2.2 billion cash deal was announced in May. Seattle-based Weyerhaeuser said it would use the $1.6 billion after-tax proceeds to repay debt.
The sale includes five pulp mills in Mississippi, Georgia, North Carolina and Alberta, as well as two modified fiber mills in Mississippi and Poland.
The deal completes Weyerhaeuser’s divestiture of its Cellulose Fibers business.
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