date:Sep 26, 2012
International Paper is to acquire the remaining shares in its Turkish joint venture and said the market is set to grow at healthy levels over the next decade.
IP plans to acquire the 50% stake in Olmuska-International Paper (Olmuska) it does not already own by the end of the year, subject to regulatory approval.
The undisclosed deal with JV partner Sabanci Holdings, includes sites in Bursa, Edirne and Gebeze in North-Western Turkey.
The firm said they had been in the joint venture for 15 year