International Paper Completes Sale of Masonite to Premdor

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International Paper Completes Sale of Masonite to Premdor

Wednesday, September 05, 2001

Press release from the issuing company

STAMFORD, Conn., Sept. 4 International Paper today announced the completion of the sale of its Masonite business to Premdor Inc.. The sale of the Masonite business is in conjunction with International Paper's plans to divest businesses that no longer fit its long-term strategy. "We are pleased that our divestiture program is well underway,'' said John Faraci, executive vice president and chief financial officer of International Paper. "With the sale of Masonite, we have divested more than $2.5 billion in non-core assets, allowing us to concentrate our focus on paper, packaging and forest products.''

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