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International Paper to expand containerboard capacity with NORPAC acquisition
International Paper (IP) has announced its acquisition of North Pacific Paper Company (NORPAC) for $360 million, a move set to expand its containerboard capacity and strengthen its packaging operations. This strategic acquisition will integrate NORPAC’s one million tons of annual containerboard production into IP’s system, aiming to enhance flexibility, reduce costs, and meet the growing demand for recycled containerboard, particularly in the West Coast region. The purchase is part of IP’s broader transformation strategy to create value for customers, shareholders, and employees.