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Paperlinx Limited (ASX:PPX) says it has entered into an agreement to buy New Zealand based Canterbury Packaging Limited which is a small distributor of industrial packaging consumables.
Paperlinx will pay $2 million for the business, to be funded from local credit facilities.
The paper manufacturer says the acquisition is a significant step in its diversified products strategy and will build on its Spicers business in New Zealand.
PaperlinX reported a net loss of $60.9 million in the first half of the 2012 financial year.
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