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International Paper Agrees to Sell Decorative Products Division

Thursday, May 02, 2002

Press release from the issuing company

STAMFORD, Conn., May 1 - International Paper announced today it has entered into a purchase and sale agreement to sell its Decorative Products Division to an affiliate of Kohlberg & Company. The agreement is subject to continuing due diligence, and other terms and conditions that were not disclosed. A further announcement will be made when the transaction closes. The Decorative Products Division manufactures and markets high and low pressure laminates, particleboard, man-made veneer, and foam based graphics and insulation products. This business includes ten manufacturing sites, nine distribution sites, and roughly 2100 employees in North America.




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