Xerox To Sell Western European Paper Business

Xerox, based in Norwalk, Conn., sold its U.S. and Canadian paper businesses earlier this year. The copier company said it is focusing on growing its business services and document technologies. Xerox doesn't make paper but has distributed a range of papers and specialty print media through its brand name.

NORWALK, Conn. (AP) -- Xerox Corp. plans to sell its Western European paper and print media products business to a subsidiary of the paper maker Sequana. Terms of the deal were not announced.

Xerox, based in Norwalk, Conn., sold its U.S. and Canadian paper businesses earlier this year. The copier company said it is focusing on growing its business services and document technologies. Xerox doesn't make paper but has distributed a range of papers and specialty print media through its brand name.

The deal with the Sequana subsidiary Antalis is expected to close early in this year's fourth quarter.

Shares of Xerox closed at $9.49 on Tuesday and have climbed 39 percent so far this year.

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