International Paper Purchases Nextier Solutions, To Accelerate eStrategy
Tuesday, June 05, 2001
STAMFORD, Conn. – International Paper, the world’s largest paper and forest products company, today announced the acquisition of Nextier Solutions Corporation, a developer of unique, web-based collaborative commerce solutions for the global paper, printing catalog and magazine publishing industry. The terms of the deal were not disclosed. Nextier Solutions Corporation will operate as a wholly owned subsidiary of International Paper and be managed as one of the company’s e-business initiatives. “International Paper has maintained a minority investment in Nextier since June of 2000, because of its leading edge software which provided web-based connections with customers in the publication, catalog and printing markets,” said Austin Lance, Vice President for International Paper’s Coated and SC Papers Business. “We chose to increase our investment to full equity because the software solution developed by Nextier has proven its functionality by lowering costs and increasing the efficiency of all supply chain participants. Nextier will continue operations and ensure the data integrity for all participating supply chain partners. Founder, Marty Weel, and a core group of staff will continue to ensure that the Nextier software solution continues to function as well as provide software development, technical and customer support. ”The acquisition of Nextier is the latest in a continuing effort to use e-commerce as a means of creating value for our customers,” said John Balboni, Vice President, e-business for International Paper.