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Brazil's Suzano agrees to buy two US paper plants from Pactiv for $110 mln
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Brazil's Suzano agrees to buy two US paper plants from Pactiv for $110 mln
Jul 12, 2024 3:34 PM

SAO PAULO, July 12 (Reuters) - Brazilian pulpmaker

Suzano has reached an agreement to buy two paper

plants from U.S-based packaging firm Pactiv Evergreen ( PTVE )

for $110 million, the companies announced in filings on Friday.

Under the deal, Suzano will buy a mill in Pine Bluff,

Arkansas, and a facility in Waynesville, North Carolina, which

produce paper used for cups as well as food and beverage

packaging materials, according to the companies.

In its filing, Suzano specified that the plants have a

total paperboard production capacity of about 420,000 metric

tons per year.

The two companies also agreed on a long-term deal under

which Pactiv Evergreen ( PTVE ) will provide services to Suzano in the

plants, and the Brazilian firm will supply Pactiv with

paperboard.

The firms expect to close the deal this year.

The agreement comes about two weeks after Suzano

terminated talks

to potentially acquire International Paper.

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