International Paper Closes Foodservice Unit Sale in China

Paper and packaging products manufacturer, International Paper Company IP recently completed the divesture of its foodservice business in China. The assets were sold to Huhtamaki Hong Kong Limited, one of the world’s largest packaging companies with 68 manufacturing units and 23 sales offices in 34 countries, for an undisclosed amount. The divested asset portfolio included two manufacturing plants with employee strength of roughly 200.

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