DS Smith sells two plants to IP - Recycling Today
Sale of facilities in France and Portugal to International Paper necessary for DS Smith’s Europac acquisition approval. United Kingdom-based DS Smith Plc has reported the sale of two packaging businesses to United States-based International Paper (IP). The two plants sold to IP are described by DS Smith as “packaging businesses in northwestern France and Portugal.” The two facilities were sold for €63 million ($71.2 million), with the sale subject to “customary closing conditions,” according to DS Smith. “I am delighted that we are on track to meet our commitment to the European Commission with both an attractive price and a good home for the businesses in International Paper,” remarks Miles Roberts, DS Smith group chief executive.