International Paper (IP) has been undergoing considerable changes, resulting from a strategic review. There has been a reduction in workforce, with 674 layoffs, and several facilities have been shuttered. This decision aligns with the closure of their pulp and paper mill in Georgetown, S.C., significantly impacting the local economy and residents. While the company continues to face criticism and challenges, it has also attracted new investments. For instance, Sumitomo Mitsui Trust Group bought 49,125 IP shares, and Curi RMB Capital invested $4.87 million. The proposed merger with DS Smith, delaying for 2025, received shareholders' vote for approval. Despite some positive aspects, IP has been downgraded to 'Underperform' by BNP Paribas, though it continues to win awards for forest conservation and leadership changes.
The Brazilian paper company, Suzano, was reportedly eyeing a $15 billion offer for IP, but these talks have since terminated. Financial performance does indicate some struggles, with Q2 sales targets missed and Q3 revenue growth being eyed cautiously. Despite the challenges, the company has reinforced its commitment to nature, investing $15.3 million in conservation partnerships, and is also strengthening its sustainable resource strategy.
International Paper IP News Analytics from Wed, 27 Mar 2024 07:00:00 GMT to Sat, 16 Nov 2024 10:05:55 GMT - Rating -2 - Innovation -1 - Information 2 - Rumor -2
