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New York • International Paper says it is paying $2.2 billion to buy seven mills from Weyerhaeuser that make pulp used in diapers, tissues and other consumer products.
The deal is expected to close before year-end.
International Paper said Monday the mills employ about 1,900 people. Two are in Georgia and another two are in Mississippi. The other mills are in North Carolina, Canada and Poland.
Based in Memphis, International Paper makes paper and packaging and said the deal will expand its product offering to businesses.
The company will get a $300 million tax benefit for the deal, bringing its total cost for the mills to $1.9 billion.
Weyerhaeuser Co., based in Federal Way, Wash., is shedding its pulp businesses to focus on selling lumber and other wood products.