Intl Paper sells Arizona Chemical |
|
|
|
Published
:
Wed, 28 Feb 2007 22:31
|
MEMPHIS, Tenn. (AP) - Forest products company International Paper Co. said Wednesday it completed the sale of its Arizona Chemical business to Rhone Capital III LP for about $485 million.In addition, International Paper said it will acquire a minority interest of about 10 percent in the acquisition vehicle to be formed by Rhone Capital.Jacksonville, Fla.-based Arizona Chemical supplies high-quality pine chemicals to the adhesives, inks and coatings, and oleochemicals markets.The company employs nearly 1,500 workers and operates 11 manufacturing facilities around the world.International Paper shares fell 37 cents to close at $35.98 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Asian economic and corporate news summary 