International Paper Announces Agreements to Sell Three U.S. Containerboard Mills for $470M

International Paper IP today announced that it has reached two agreements to sell three U.S containerboard mills in order to satisfy the company's obligations in its February 2012 settlement agreement with the U.S. Department of Justice. Under the terms of the DOJ settlement agreement, entered into in connection with the company's acquisition of Temple-Inland, International Paper agreed to divest the following mills: the former Temple-Inland mill in Ontario, CA the former Temple-Inland mill in New Johnsonville, TN the International Paper mill in Oxnard (Hueneme), CA