Permanent closures to reduce IP’s North American capacity by 2.1 million tons
MEMPHIS, Tenn. – Oct. 22, 2009 – International Paper (NYSE: IP) today announced plans to close its paper mill and associated operations in Franklin, Va., and its containerboard mills in Pineville, La., and Albany, Ore. The company also announced it would permanently shut down the previously idled No. 3 machine at its Valliant, Okla., containerboard mill. The Valliant Mill’s other two machines will continue to operate. These permanent shutdowns will reduce the company’s North American paper and board capacity by 2.1 million tons.
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