About International Paper Co

International Paper Company (International Paper) operates as a global producer of renewable fiber-based packaging and pulp products with manufacturing operations in North America, Latin America, Europe, and North Africa. In the United States, as of December 31, 2023, the company operated 23 pulp and packaging mills, 162 converting and packaging plants, 16 recycling plants, and three bag facilities. Production facilities as of December 31, 2023 in Canada, Europe, North Africa and Latin America included four pulp and packaging mills, 37 converting and packaging plants, and two recycling plants. The company operates a packaging products distribution business principally through six branches in Asia. On September 18, 2023, the company completed the previously announced sale of the company’s 50% equity interest in Ilim S.A. (‘Ilim’), which was a joint venture that operated a pulp and paper business in Russia and has subsidiaries, including Ilim Group. The company also completed the sale of all of the company’s Ilim Group shares (constituting a 2.39% stake) and divested other non-material residual interests associated with Ilim. Following the company’s public announcement on October 18, 2023, the company permanently closed its containerboard mill in Orange, Texas on December 4, 2023 and permanently ceased production on two of its pulp machines at its Riegelwood, North Carolina and Pensacola, Florida mills on December 11, 2023. Segments The company operates through two segments: Industrial Packaging and Global Cellulose Fibers. Industrial Packaging The majority of the company’s business is focused on creating fiber-based packaging that protects and promotes goods, enables worldwide commerce and helps keep consumers safe. The company meets its customers’ most challenging sales, shipping, storage and display requirements with sustainable solutions. The company’s U.S. production capacity is over 13 million tons annually. The company’s products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. About 80% of the company’s production is converted into corrugated packaging and other packaging by the company’s 173 North American corrugated packaging plants. Additionally, the company recycles approximately one million tons of OCC and mixed and white paper through the company’s 16 U.S. recycling plants. The company’s corrugated packaging plants are supported by regional design centers, which offer total packaging solutions and supply chain initiatives. In EMEA, the company’s operations include a recycled fiber containerboard mill in Morocco and one in Spain and 23 corrugated packaging plants in France, Italy, Spain, Morocco, and Portugal. Global Cellulose Fibers The company creates safe, quality pulp for a wide range of applications like diapers, towel and tissue products, feminine care, incontinence and other personal care products that promote health and wellness. In addition, the company’s specialty pulps serve as a sustainable raw material used in textiles, construction materials, paints, coatings and more. The company’s products are made in the United States and Canada and sold around the world. International Paper facilities have annual dried pulp capacity of about 3 million metric tons. Marketing and Distribution The company sells products directly to end users and converters, as well as through agents, resellers and distributors. Governmental Regulation The company has completed capital projects to meet the U.S. Environmental Protection Agency's (‘EPA’) maximum achievable control technology (‘MACT’) and risk and technology review (‘RTR’) regulations that require owners of specified pulp and paper process equipment and boilers to meet new air emissions standards for certain substances. As portions of these MACT and RTR regulations have been remanded to EPA for further consideration it is not clear at this time what, if any, additional capital project expenditures might result from resolution of the open issues. Environmental Protection The company has been named as a potentially responsible party (‘PRP’) in environmental remediation actions under various federal and state laws, including the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (‘CERCLA’). History International Paper Company was founded in 1898. The company, a New York corporation, was incorporated in 1941.