Nippon Paper Industries has completed the acquisition of Weyerhaeuser’s liquid packaging board business for $285m.
Under the deal, which was first announced in June, Nippon acquired Weyerhaeuser’s mill situated in Longview of Washington. The mill has an annual capacity of 280,000t.
The mill manufactures liquid packaging rolls, which are later transferred to two extruder machines that apply a polyethylene coating to the product.
The liquid packaging board is used to produce cartons and boxes for milk, juice, tea, shochu, and sake.
Weyerhaeuser president and CEO Doyle Simons said: "Nippon Paper Industries is acquiring a strong portfolio of high quality products and a well-regarded employee team that has contributed much to Weyerhaeuser over the years.
"This transaction further focuses our company as we work together to be the world's premier timber, land, and forest products company."
Weyerhaeuser has around 13 million acres of timberlands in the US. Under long-term licenses, the firm also manages additional timberlands in Canada.
In addition, the company produces wood and cellulose fibers products.
Nippon produces various paper products, including wrapping paper, paper board, printing and writing paper, functional specialty paper, converting paper, paper packs and others.
