date:Mar 16, 2016
International Paper, the food packaging company which makes cups, lids and containers for restaurants, is offloading its corrugated packaging business in China and Southeast Asia for around $150 million.
It is selling the business to investment firm Xiamen Bridge Hexing Equity Investment Partnership Enterprise.
International Paper is selling a business which has 18 plants in Asia and employs around 3,000 staff.
The deal is expected to be completed in the coming months.
It underscores that In