International Paper has come to the conclusion that its Packaging business in Brazil is not profitable enough. The company's containerboard and corrugated board plants in the country might therefore be sold.
International Paper (IP) is considering to sell its packaging business in Brazil. The Group was currently reviewing various strategic options, including the sale of its corrugated case material and corrugated board plants in the country, IP's CEO Mark Sutton said at the presentation of the company's quarterly results. The company had come to the conclusion that it was not competitive on the Brazilian packaging market with its existing business structure, he added.
Mr Sutton explained that the success of the packaging business in Brazil strongly depended on the development of the country's GDP. Against the backdrop of the almost four-year-long economic crisis in Brazil, IP's packaging business had made no profits, he added.
Find the full article in EUWID Pulp and Paper issue no 45/2018, which will be available to our e-paper and print subscribers as of 7 November.