West Coast Paper Mills Ltd. (WCPML) has entered into a share purchase agreement to acquire about 51-60% stake in International Paper’s (IP) Indian unit, International Paper APPM Ltd. The stake will be acquired from existing promoters — International Paper Investments (Luxembourg), SARL Luxembourg and IP International Holdings Inc, US. The deal is expected to be completed by the end of the year.
International Paper APPM Ltd (IPAPPM), is one of the largest integrated paper and pulp manufacturers in India. The company produces writing, printing and copier papers for foreign and domestic markets. The company’s production facilities at Rajahmundry and Kadiyam have a total production capacity of 240,000 TPA. Before the acquisition by International Paper, the company name was Andhra Pradesh Paper Mills Limited (APPM).
West Coast Paper Mills Limited (WCPML) is one of the oldest and the largest producers of paper for printing, writing, and packaging in India. Established in 1955, the mill is located at Dandeli in Uttara Kannada district in Karnataka. The global quality paper produced by the company serves the needs of innumerable industries in printing, writing, publishing, stationery, notebooks and packaging sectors in India.
International Paper (IP), the promoter of IPAPPM, is a leading global producer of renewable fibre-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, India and Russia. It produces corrugated packaging products that protect and promote goods, and enable world-wide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness; and papers that facilitate education and communication.
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