International Paper To Sell 50% Stake In Ilim International Paper has agreed to sell its stake in Ilim Group, reportedly one of the largest integrat- ed manufacturers of pulp and paper in Russia, to its joint venture partners for a $484 million equity value. The transaction is subject to regulatory approvals in Russia and values the company at $3.5 billion. International Paper has also received a separate indication of interest from its JV partners to pur- chase all its shares in Ilim Group. The partners have offered to pay $24 million for the company’s 2.39 percent stake in the group. The terms and conditions of the offer are subject to agreement. International Paper said it is looking for an agree- ment to sell its shares in JSC Ilim, along with other non-material residual interests associated with Ilim, to its JV partners. Ilim is a 50/50 joint venture between Internation- al Paper and Ilim Holding. With production facili- ties in the Leningrad, Arkhangelsk and Irkutsk re- gions, the company is also reportedly the largest foreign-domestic alliance in the country’s forestry products sector. It has branches in Koryazhma, Bratsk and Ust-Il- imsk, as well as forestry branches that supply raw materials to its production facilities. Ilim also has two corrugated cardboard plants in the Leningrad and Moscow regions. Last month, the company completed the first wa- ter run of the XcelLine kraft linerboard (KLB) ma- chine at its new KLB Mill in Ust-Ilimsk. The sale comes at a time when several companies are deciding to exit from Russia due to the coun- try’s war with Ukraine. Avery Dennison To Acquire Thermopatch Avery Dennison has signed an agreement to ac- quire Thermopatch, a provider of labeling, embel- lishments, and transfers for the sports, industrial laundry, workwear and hospitality industries. After the deal closes, which is expected to happen in the first quarter of 2023, Thermopatch will become part of the company’s Retail Branding and Information Solutions (RBIS) Apparel Solutions division. Thermopatch, headquartered in Syracuse, New York, had revenues of approximately $40 million in 2022, with around 200 employees, with operations in North America and Europe.
Get your company in front of the flexo industry’s key decisionmakers. Flexo Market News’ readership is comprised of Presidents, Owners, VPs and General Managers of flexo operations — the key people who make decisions on equipment purchases. An ad in Flexo Market News is a direct sales meeting with thousands of the industry’s best thinkers and most influental leaders. Reach Owners, President, VPs and General Managers The Top Minds In The Flexo Industry Are Waiting To Hear From You
To boost your market presence contact:
Greg Kishbaugh / 317-306-1060 / flexo@nvpublications.com
Robyn Smith / 910-553-4055 / rsmith@nvpublications.com
8 January 30, 2023 Flexo Market News
Made with FlippingBook - professional solution for displaying marketing and sales documents online