(USA, Russia) International Paper recycled bad news into good on Friday, announcing an investor-friendly $1.5 billion five-year investment in Russia after a week of mill closures and union agreements in the U.S.
The rising costs of energy, raw materials and labor have hurt the industry, with companies following cost-cutting and consolidation routes to try to ease the burden. Hence International Paper's acquisition of Central Lewmar from private equity's Chrysalis Capital Partners for $185 million on Tuesday, as well as Friday's joint venture announcement.
Discuss Add this link to... Tell a friend Add to:
| Bookmarks
Discuss
Add this link to...
Tell a friend
Comments