Klabin completed the acquisition of Brazilian corrugated packaging business of International Paper for $65m.

Klabin, a paper producer, exporter and recycler in Brazil, completed the acquisition of the Brazilian corrugated packaging business of International Paper, an American pulp and paper company, for $65m. International Paper received $55m at closing and will receive $10m more a year after. The business includes three container board mills and four box plants.