RTTNews | Feb 12, 2021 01:00AM EST

01:00 Friday, February 12, 2021 (RTTNews.com) - International Paper (IP) has agreed to sell the Kwidzyn pulp and paper mill and supporting operations to Mayr-Melnhof Karton AG for 670 million euros. The Kwidzyn mill has the annual capacity to produce 740,000 metric tons of folding boxboard, uncoated freesheet, specialty kraft papers, and market pulp on four machines.

In December, 2020, International Paper announced its plan to spin off Printing Papers business into a standalone, publicly-traded company in order to focus on its corrugated packaging and absorbent fibers businesses.

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