International Paper to Purchase Dillard
<i> United Press International</i>
PURCHASE, N.Y. —
International Paper Co. is acquiring Dillard Paper Co., a privately held paper-distribution business based in Greensboro, N.C.
Terms of the transaction, expected to be completed before the end of April, were not disclosed.
With about 1,700 employees, Dillard had 1990 sales of almost $500 million. It distributes printing and industrial papers as well as packaging equipment and related supplies. It operates 41 retail outlets in the Southeast and two converting facilities.
“Dillard provides an excellent strategic fit with our existing $2-billion paper-distribution business,” said David W. Oskin, an International Paper senior vice president.
