International Paper of Stamford, CT, signed a definitive agreement with Lyme Timber Co. of Hanover, NH, for the sale of about 275,000 acres of forestland in New York's Adirondack Park for approximately $137 million.International Paper of Stamford Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , CT, signed a definitive agreement with Lyme Timber Co. of Hanover Hanover, city, Germany Hanover, Ger. Hannover, city (1994 pop. 524,820), capital of Lower Saxony, N Germany, on the Leine River and the Midland Canal. , NH, for the sale of about 275,000 acres of forestland for·est·land n. A section of land covered with forest or set aside for the cultivation of forests. in New York's Adirondack Park The Adirondack Park is a large area of publicly protected land in northeast New York. Through a loose collection of lands owned by various groups and private individuals, it covers 6. for approximately $137 million. The sale of forestlands is part of IP's previously announced transformation plan to focus on uncoated papers and industrial and consumer packaging globally. Anticipated proceeds from this and other recently announced sate agreements, totaling about 5.7 million acres, are approximately $6.6 billion. IP still owns about 830,000 acres. |
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