Kimberly-Clark splits its international business of Huggies and other paper tissue products outside the United States.

The mother company of Kleenex, Kimberly-Clark, announced the spin-off of its international business of Kleenex and other tissue products outside the United States, forming a joint venture worth 3 billion dollars, and selling the majority of the shares to Brazilian pulp manufacturer Suzano. Suzano will invest 1.7 billion dollars to acquire 51% of the shares of this division, while Kimberly-Clark will hold 49% of the shares of the joint venture company. The new company will have more than 40 regional brands in international household and professional hygiene businesses, and five global brands including Kleenex and Scott will be licensed to the new company under a long-term agreement.