West Coast Paper Mills, one of the oldest and the largest producers of paper for printing, writing, and packaging in India, completed the acquisition of the Indian unit of International Paper, a producer of renewable fiber-based packaging, pulp and paper products, for $86m. "As part of our strategic assessment of the IP portfolio, we have decided to exit our position in IP APPM. This decision is a reflection of our continued focus on growing our global packaging and cellulose fibers businesses. Our paper business continues to perform well in India and we wish the team there the very best in the future," said Mark Sutton, International Paper Chairman and Chief Executive Officer.