The Europac Group (Papeles y Cartones de Europa, S.A.) has reached an agreement to sell its factory in Tangier to International Paper. The transaction amounted to €40 million, which after balance sheet adjustments add up to €44 million. The operation contributes a consolidated net profit of €10 million to the 2017 fiscal year, after investing in the construction, start-up and operation of the business. The sale agreement has the approval of the Conseil du Concurrence, the anti-trust authority in Morocco.
Europac sells site to IP
