by Roby Brock (roby@talkbusiness.net)

Pactiv Evergreen Inc. announced it has signed a definitive agreement to sell its Pine Bluff, Arkansas paper mill and Waynesville, North Carolina extrusion facility to global paper and pulp producer Suzano S.A.

The $110 million cash transaction is expected to close in the fourth quarter of this year.

Suzano has agreed to offer employment to several hundred current employees at Pine Bluff and Waynesville.

The Pine Bluff mill produces liquid packaging board and cupstock used to make fresh beverage cartons, paper cups and other fiber-based food and beverage packaging. Waynesville provides incremental extrusion capacity for the board produced at Pine Bluff.

Brazilian pulp manufacturer acquires Pine Bluff paper mill for $110 million