Swift Consolidation Sweeps Paper Industry
Among the recent moves:
- Scandinavian Stora Enso has plans to buy Wisconsin Rapids, WI-based Consolidated Papers;
- Europe’s second-biggest paper and board maker, UPM-Kymmene, plans to buy Stamford, CT-based Champion International for more than $6 billion;
- International Paper (IP) said it was buying Shorewood Packaging;
- Canada-based Abitibi-Consolidated said it would buy Canadian Donohue (partially owned by Quebecor); and
- Quebec’s St. Laurent Paperboard agreed to a takeover bid by Chicago-based Smurfit-Stone Container for $1.4 billion in cash, stock and assumed debt. Stora Enso has already said it would buy Norway’s biggest paper wholesaler, Carl Emil A/S.
Stora Enso will buy Consolidated Papers for approximately $4.84 billion in cash, stock and debt, a move that officials say will make it the world’s top paper and board producer, with paper capacity of approximately 15 million metric tons.
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