MADRID, Spain -- Holmen announced that it has completed the sale of its newsprint mill in Madrid, Spain.

The buyer, International Paper, will convert the mill into recycled containerboard production. International Paper will continue to produce newsprint at the mill until the second half of 2017 when it is scheduled to be converted into recycled containerboard. During this period, Holmen will sell the newsprint produced at the mill and continue to serve its customers.

"During this period we will maintain our service and deliveries of todays products. Our customers will not be affected," says Nils Ringborg, CEO Holmen Paper.

Included in the transaction is also the recycled paper collector Cartón y Papel Reciclado S.A. (Carpa) and Holmen's 50% shareholding in the energy producer Peninsular Cogeneración S.A.