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MEMPHIS, Tenn. (AP) - International Paper, a global supplier of packaging materials and uncoated paper, announced Monday it is buying the containerboard unit of Weyerhaeuser Co. for $6 billion in cash.
Memphis-based International Paper said it will pay for the purchase through increased debt.
The company has greatly cut its debt and improved cash flow since launching a major reorganization in 2005 to move away from forest products and focus on producing uncoated paper and containerboard.
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