Brazilian Pulp Producer Suzano Wages $15B To Acquire IP Reuters reported last week that Brazilian pulp and paper company Suzano has approached US-based International Paper (IP) to express interest in an all-cash acquisition that would be worth almost $15 billion, according to people fa- miliar with the matter. The news came less than a month after IP announced that it has reached an agreement to acquire British pack- aging firm DS Smith for $9.9 billion, beating out a rival bid from UK-based Mondi. The deal is set to close by the fourth quarter of 2024. IP issued a release last week saying that it has no com- ment on “rumors or speculation” contained in recent me- dia reports: “As industry conditions continue to improve, IP will come out of a cyclical bottom for earning. The compa- ny is also focused on completing its previously announced combination with DS Smith, which offers a unique and highly-compelling opportunity to create significant share- holder value above its base plan.” Suzano, one of the world’s largest pulp manufacturers, has communicated its $42-per-share offer to IP’s board of directors verbally, and could submit a formal bid in the coming days, Reuters reported. IP is poised to reject Suzano’s offer as inadequate, one of the sources said.
Packaging Education (CONT’D FROM PAGE 16)
each year who have shown an interest in the corrugated converting industry. Each year, the trustees of the J. Richard Troll Memori- al Scholarship Fund grant monetary scholarships to three undergraduate students and one graduate student who are majoring in packaging engineering or a related pack- aging field. The fund was established to honor the memo- ry of the late J. Richard Troll, a founder of the AICC and the International Corrugated Packaging Foundation. “I believe that donating to this industry-specific foun- dation will help encourage the young adults who already have careers in the packaging industry to continue to im- prove their knowledge and skills,” said Jay Carman, Presi- dent of StandFast Packaging. Studies have shown that manufacturing companies that can demonstrate investment in industry-related employee education are more likely to fill open positions and retain team members than those that cannot. Foundation funds will be used, in part, for in-person, goal-based training programs for manufacturing floor teams. The FPE is uniquely positioned to reduce the train- ing expense for AICC member companies and the indus- try. The Foundation will support educational and scientific research, and in-kind support to educational institutions for curriculum development growing the knowledge base available to everyone.
We’ve got our customers covered… …with our fiberglass backed, boltless, full double-wide blankets and an extensive inventory of corrugated parts needed by virtually every box plant in the country. The innovator of the original fiberglass-backed knuckle locking anvil cover, Stafford is the industry’s go-to source for everything corrugated. TM
www.go2stafford.com 800-282-5787 IS THE MANUFACTURER OF STAFFORD ANVIL COVERS ®
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May 20, 2024
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