February 14, 2020
Mexico's Bio Pappel said on Thursday that it is analyzing how to further grow production in North America after increasing its stake in US Corrugated to 80%.
Bio Pappel's US subsidiary McKinley Paper acquired 55% of US Corrugated in July last year and earned the right to buy the other 45% within five years. Bio Pappel is now the largest paper company in the United States and the rest of North America, it said in a securities filing.
The Mexican company took a $70 million oan from Bank of America
Mexican paper company looks for more ways to grow production after increasing its stake in US Corrugated to 80%