Smurfit Stone, the American packaging group 33 per cent-owned by Jefferson Smurfit Group, has completed its withdrawal from the newsprint business.

Smurfit Stone has agreed to sell its mill in Oregon City, Oregon, to a management/employee grouping and the deal is expected to be completed by the end of March.

No consideration has been disclosed, but Smurfit Stone got $200 million when it sold another Oregon newsprint mill to Southeast Paper Manufacturing last September.