Georgia timberland owners lose buyers as mill closures cut 3% of U.S. containerboard capacity.
International Paper
North American box volumes grow as company completes Riverdale conversion and NORPAC acquisition.
Lori Ryerkerk brings energy and chemicals experience; Katherine Collins contributes investment and governance perspective.
Texas plant closure follows regular network evaluation to strengthen packaging business competitiveness.
The mill will remain offline while the company assesses damage to a critical roof.
The company plans closures in Illinois, California and New Jersey and will end preprint work at its Richwood, Kentucky, facility.
The deal brings a Longview, Washington mill that makes lightweight recycled packaging papers into International Paper and expands the company's West Coast service capabilities.
Dover, Del., site will add converting capacity and broaden service coverage for East Coast customers.
Packaging Solutions North America operating profit falls to $248 million on seasonally lower volumes and storm-related cost increases.
The deal will add a Longview, Washington, mill with 3 paper machines, about 500 employees and about 1 million tons of annual output.