In April of this year, International Paper (IP) initiated a transformation process that will result in a “stronger and more profitable packaging company”.
In October, the group began implementing a package of measures that is intended to improve the EBITDA result by around US$ 230 million per year from 2026. IP will close several plants in the USA by the end of the year and cut more than 1,800 jobs. In addition, the group wants to review “strategic options” for the pulp division Global Cellulose Fibers (GCF). A sale is not ruled out.
First, IP set about simplifying its corporate structure. According to IP, this will result in 650 job cuts. In addition, the closure of five packaging plants in “regions with identified overcapacity” is planned. The format plant in San Antonio in Texas as well as the packaging plants in Cleveland/Tennessee, Kansas City/Missouri, Rockford/Illinois and Statesville/North Carolina are affected.
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