International Paper finishes SCA Packaging deal

MEMPHIS, Tenn.

International Paper Co. said Wednesday that it completed its purchase of SCA Packaging Asia for about $200 million, subject to post-closing adjustments.

International Paper said the deal strengthens its industrial packaging business in China, which it called the largest corrugated market in the world. The company said its Asian business has 27 plants and includes operations in Thailand, Malaysia, Singapore and Indonesia.

The deal was announced in April.

International Paper shares rose 69 cents, or 3.1 percent, to $23.08 in afternoon trading.