International paper has expanded its paper industry in India through acquisitions.
International Paper announced its acquisition of 75% of India's Andhra Pradesh paper mills (APPM), thereby successfully expanding its paper industry in India
international paper acquired 53,5% of the shares from Mr. L.N. bangur, the major shareholder of APPM, and his family. This part of the acquisition was paid in cash of US $226million. At the same time, international paper also signed an agreement with the bangur family, which will no longer enter the field of competition. Domestic industry experts believe that international paper paid an additional $57million for this. International paper also purchased 21.5% of the shares of APPM from the secondary market for us $105million, which was completed on October 8, 2011. Paul Brown, President of international paper India, will be the executive chairman of the board of directors of APPM from October 17
APPM is a leading comprehensive paper-making enterprise in India. It has two paper mills with an annual output of 250000 tons of uncoated paper. The current management team and 2500 employees of the company will continue to work in their original positions. This will help strengthen the leading position of the international paper industry (in the South Asian market)
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