International Paper Co. (IP) has announced multiple strategic shifts including the closures of its packaging facilities in Compton, California and Louisville, Kentucky. These changes are part of its North American growth initiative, which also include exiting the molded fiber business, divesting its corrugated box plants in Europe, and selling its cellulose fibers division for $1.5 billion. Additionally, the company is exploring the construction of a new, state-of-the-art sustainable packaging facility in Salt Lake City, Utah. Despite attempts to shift strategy and streamline operations, IP's share price has gone through recent declines, with stakes in the company being shifted among various investment management firms.
IP’s Q3 earnings posted sales below analyst estimates. Its CEO conceded that macroeconomic conditions “continue to be challenging” but holds a positive outlook, stating “momentum is picking up.” The company marked a $1 billion loss in the last quarter due to an impairment charge. IP also ignored local incentives to stay in Georgia, choosing to close two packaging facilities in the US as demand slows.
International Paper IP News Analytics from Wed, 26 Mar 2025 07:00:00 GMT to Sat, 29 Nov 2025 13:58:55 GMT - Rating -3 - Innovation -2 - Information 7 - Rumor -7
