International Paper said it will close its Cedar River mill and several packaging plants as part of a North America packaging network optimization plan affecting about 1,100 roles.

MORE LAYOFFS? FOX13 learned that on Wednesday nearly 300 employees received a warn notice, which is required by employers who are enacting mass layoffs. What's unclear is if these are additional layoffs or part of the layoffs that have already been announced.

(Reuters) -International Paper said on Thursday it will sell its global cellulose fibers business to private equity firm American Industrial Partners for $1.5 billion. The deal, expected to close by end-2025, is part of its strategy to focus on sustainable packaging solutions. The divestiture comes months after the company’s $7.2 billion acquisition of UK rival DS Smith. Shares of International Paper were up about 1% in early trading. Separately, the packaging products maker announced a $250 million investment to equip its Riverdale mill in Selma, Alabama, to produce containerboard. The changes are expected to impact about 1,100 hourly and salaried positions. It also said the company was permanently closing its facilities in Savannah and Riceboro in Georgia.

Investing.com -- International Paper (NYSE:IP) plans to close five packaging sites in the United Kingdom and cut up to 300 jobs by the end of the year, the company said on Friday, following its completed merger with DS Smith. The pulp and paper company said the closures are part of a series of proposals aimed at improving operational efficiency and addressing changing customer needs in difficult market conditions. In addition to the closures, International Paper proposed relocating one site, reducing operations from 24-7 to 24-5 at another location, and making small headcount reductions at two further sites. “Although the proposals result from a strategic review by the UK business,” International Paper said in a statement. “They constitute an update to the intentions with respect to DS Smith set out in the Offer Documentation” International Paper completed its all-share combination with DS Smith on Jan. 31, 2025. The deal was executed through a scheme of arrangement under Part 26 of the Companies Act 2006.

Investing.com -- Shares of International Paper (NYSE:IP) climbed 2%, Packaging Corp (NYSE:PKG) gained 1.6%, Smurfit Westrock (NYSE:SW) increased by 0.4%, and Greif (NYSE:GEF) edged up 0.5% following the announcement that Georgia-Pacific, a major containerboard producer, will permanently shut down its Cedar Springs, GA containerboard mill, effectively reducing North American capacity by approximately 2.5%. The closure, set to take effect on August 1, comes as Georgia-Pacific expressed concerns that the mill would not be able to competitively meet long-term customer demands. The company plans to continue operations for a brief period to complete existing orders. This decision is seen as a strategic move to align supply with demand within the industry. Truist analyst Michael Roxland commented on the impact of the closure, stating, "Overall, we view the closure as positive for North American containerboard supply/demand dynamics and believe it could be supportive of pricing." The reduction in capacity follows a series of similar announcements within the industry, including closures by Smurfit Westrock, International Paper, and Greif, which together account for a significant reduction in North American containerboard capacity. The consolidation of supply in the containerboard market may lead to improved pricing power for the remaining producers. These developments align with the analyst’s view that the industry is taking rational steps to manage supply in accordance with demand levels. Additionally, the United States is currently negotiating trade agreements with several countries, including China. Any permanent trade resolutions could boost consumer confidence and, consequently, demand for containerboard. This increase in demand, coupled with the recent capacity reductions, could potentially lead to further price increases for containerboard products before the end of the year, particularly in light of the seasonally stronger demand expected in late summer and early fall. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

International Paper Stock Leads S&P Gainers on New Growth Targets  Investopedia

U.S.-based International Paper (NYSE: IP) secured EU clearance for its 5.8-billion-pound ($7.2 billion) acquisition of UK rival DS Smith with a pledge to sell

U.S.-based International Paper (NYSE: IP) is set to receive EU approval for its 5.8 billion pounds ($7.12 billion) acquisition of UK rival DS Smith after