New Zealand's Rank Group - after purchasing International Paper's liquid packaging unit and IP's share in Carter Holt Harvey in the last year - made another big play in America,reaching an agreement to buy Blue Ridge Holding Corp.'s Blue Ridge Paper Products.The deal,expected to be completed next month,moves Rank Group to No.2 in the world in mainly beverage carton production,behind Tetra Pak.Rank Group would pay 338 million for Blue Ridge Paper,which runs a 600,000 tons/yr beverage board and uncoated freesheet mill in Canton,NC,and has four converting plants that make drink and types of cartons.
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