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Unisource, xpedx to Merge

Paper and packaging distributors Unisource Worldwide Inc. and xpedx will merge in an agreement that will result in the creation of a new publicly traded company.

The agreement to merge the businesses was signed by International Paper, parent company of xpedx, and by UWW Holdings Inc., holding company of Unisource.

The new company is expected to have sales in the range of $9 billion to $10 billion annually, with about 9,500 employees across more than 170 distribution centers in North American.

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