Memphis-based International Paper announced today it has completed its purchase of seven Weyerhaeuser facilities, including a pair of mills in Lowndes County.
The announcement was made through a press release from IP’s corporate headquarters.
The $2.2-billion purchase, originally announced in May, includes the modified fiber and cellulose fiber mills in Lowndes County. The two mills employ approximately 420 people.
The other Weyerhaeuser facilities being purchased by International Paper are cellulose fiber mills in Flint River, Georgia; New Bern, North Carolina; Port Wentworth, Georgia; Grande Prairie, Alberta, Canada; and a modified fiber mill in Poland.
The sale does not include other Weyerhaeuser properties in the state, such as its Mississippi-Alabama Timberlands Area Headquarters in Columbus and lumber mills in other parts of the state.
“This transaction positions International Paper as the premier global supplier of fluff pulp and enhances our ability to generate additional cash flow,” International Paper Chairman and CEO Mark Sutton said in the press release. “I want to personally welcome the talented employees of Weyerhaeuser to the International Paper family as we look forward to serving our customers around the world.”
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