Brazil’s Suzano agrees to buy Pactiv Mill in US$110mil deal

An Employee of the International Paper Company's Mt Carmel factory drives a font loader carrying corrugated boxes in Pennsylvania, U.S., on Tuesday, October 4, 2011. Photographer: Paul Taggart/Bloomberg

RIO DE JANEIRO: Suzano SA has agreed to acquire Pactiv Evergreen Inc’s Pine Bluff mill in Arkansas for US$110mil in cash as the Brazilian pulp-making giant seeks to tap into the US packaging sector.

The transaction, which also includes an extrusion facility in Waynesville, North Carolina, is expected to close in the fourth quarter, according to a statement confirming an earlier report by Bloomberg News.