Macfarlane has acquired the packaging business of Edward McNeil, a regional distributor of protective packaging materials, to expand its distribution business in the UK.

Following the agreement, Macfarlane will pay up to £1.8m ($2.63m), with a deferred consideration of £0.15m ($0.22m) payable within a year.

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International Paper (IP) has agreed to purchase cellulose fibre pulp mills from Weyerhaeuser Company for $2.2bn.

“The plants produce fluff, softwood and specialty pulp, which are used to make nappies, hygiene products, tissue and textiles.”

The acquisition is to strengthen IP’s position in the global fluff pulp market, and covers five pulp mills and two converting facilities.

The plants produce fluff, softwood and specialty pulp, which are used to make nappies, hygiene products, tissue and textiles.

Debevoise & Plimpton acted as financial adviser for the transaction, which is expected to close in the fourth quarter of 2016.

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United States Steel, an integrated steel producer based in the US, has announced a senior secured notes placement.

Due in 2021, the notes under the placement will raise gross proceeds of $500m.

The proceeds will be used to repay the company’s existing debt, as well as for near-term maturities and general corporate expenses.

With major production operations in North America and Central Europe, the company produces 24.4 million net tonnes of steel every year.

United States Steel also announced another senior secured notes offering to raise $980m.

The notes, due in 2021, carry a coupon rate of 8.375%.

Solvay has signed an agreement with Unipar Carbocloro to sell its 70.59% interest in Solvay Indupa, a polyvinyl chloride (PVC) resins producer, for a total enterprise value of $202.2m.

The transaction is expected to strengthen Unipar’s PVC and caustic soda business.

Image: International Paper will acquire Weyerhaeuser’s pulp business. Photo: courtesy of International Paper.