Weyerhaeuser Co. of Federal Way, Wash., has sold its containerboard packaging and recycling business to International Paper Co. of Memphis for $6 billion in cash.

Weyerhaeuser's packaging plants at Fort Smith and Russellville are among the nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities included in the deal.

The move affects about 14,300 employees. The Fort Smith plant employs 197 while the Russellville facility employs 67.

Both companies have been seeking ways to focus on a core business and get rid of poor performing businesses. IP has settled on containers and uncoated paper as its primary business. Weyerhaeuser is focusing on its timberland, sawmills and homebuilding.

Weyerhaeuser was the second-largest forest product company in the state in Arkansas Business' latest rankings with 1,150 employees. After the deal closes, the company will have 813 employees. It remains one of the largest forest land owners with 700,000 acres in the state.

International Paper, which has sold off all of its timberland and had only a couple of containerboard or box plants left in the state, had seen its presence in Arkansas reduced to 500 employees in the latest survey by Arkansas Business. With the completion of the deal, that number should be about 765 employees in Arkansas.

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