We hear that International Paper has entered into an exclusive agreement to sell its Pine Bluff mill and other beverage packaging facilities to Carter Holt Harvey Ltd, Australia's largest forest products, pulp, paper & packaging company. IP formerly owned a controlling interest in Carter Holt Harvey.
The deal may be finalized by Dec 31. No word on how employees of the Pine Bluff mill will be affected.
IP announced in July 2005 that it would likely sell the Pine Bluff facility to reduce debt and focus on producing uncoated papers and industrial and consumer packaging.