- International Paper (NYSE:IP -1.8%) discloses that it entered into an agreement with West Coast Paper Mills to sell its 75% controlling interest in India-based paper business International Paper APPM Limited.
- Financial terms weren't disclosed.
- "As part of our strategic assessment of the IP portfolio, we have decided to exit our position in IP APPM," says CEO Mark Sutton. "This decision is a reflection of our continued focus on growing our global packaging and cellulose fibers businesses," he adds.
- Source: Press Release