International Paper Buys NORPAC, Marking Newsprint's End

0:00It's April 23rd. I'm Cory with the story. This is Canada News Today, driven by AI. International Paper, the big Tennessee pulp and paper giant, just announced it's buying long views North Pacific Paper Company or NORPAC for $3. $160 million. The deal needs regulatory approval, and it comes right as NORPAC gears up to shut down its newsprint production by May 1st. NORPAC sees owned by private equity firm, one rock capital partners, and they've been a key player since opening in 1979 as a joint. Venture between Weir Heißer and Japan's Nipon Paper Industries. Company exec Tom Hommick highlighted how NORPAC's Prime West Coast spot and loyal customers will boost international papers reach in the growing market. With NORPAC bowing out of newsprint, Inland Empire paper up near the Idaho border becomes the last mill making that grade in the whole United States. Marking a big shift in the industry.