International Paper has completed divestiture of five European plants to PALM Group.
This strategic move comes as part of the regulatory commitments following International Paper's acquisition of DS Smith.
With this sale, which encompasses facilities in France, Portugal, and Spain, International Paper has fulfilled all its commitments to the European Commission concerning the DS Smith acquisition, the company said.
The divestiture includes three plants located in Normandy, France, namely a box plant in Saint-Amand, another in Mortagne, and a sheet plant in Cabourg.
Additionally, the sale comprises one box plant in Ovar, Portugal, and another in Bilbao, Spain.
International Paper, headquartered in Memphis, Tennessee, US, and with Europe, the Middle East, and Africa headquarters in London, UK, employs over 65,000 people worldwide.
The company's operations span more than 30 countries, and it reported net sales of $18.6bn in 2024.
PALM is a European producer of containerboard, graphic paper, and corrugated packaging.
With the addition of these five plants, PALM now operates 33 corrugated box plants across Europe.
The company's 4,200 employees generated a turnover of €2bn ($2.36bn) in 2024, emphasising their commitment to high-quality products, reliable service, and sustainable production.
The company has revealed strategic changes to its North American operations. The move will impact approximately 110 hourly and 24 salaried employees in the US.
