International Paper (IP), a premier packaging service, has unveiled strategic maneuvers aimed at bolstering growth in North America and creation of a new sustainable packaging facility in Salt Lake City, Utah. This has come after the finalization of their acquisition of DS Smith accompanied by significant leadership changes. As part of this plan, IP is exiting its molded fiber market, leading to the sale of select Mexico sites, and facility closures. These changes include the selling of their five European plants to the PALM Group, to satisfy Regulatory Commitments from the DS Smith acquisition.
In line with the radically transforming bio-tech market, IP plans to streamline operations for boosted efficiency and restructuring for North American operations. However, these strategic moves led to the cut of 134 jobs. In total, IP stock seemed to oscillate in the market, underperforming and crashing on one day and rising on the next. Finally, there are talks of IP exploring strategic options for Global Cellulose Fibers Business and a review for closure of Georgetown, S.C. Pulp and Paper Mill. Importantly, the company maintains its commitment to sustainability, exemplified by the conservation of a million acres of forestland and its efforts towards more transparent environmental leadership.
International Paper IP News Analytics from Thu, 31 Oct 2024 07:00:00 GMT to Fri, 11 Jul 2025 22:54:31 GMT - Rating -3 - Innovation -2 - Information 8 - Rumor 2
