Tuesday, June 12, 2007

IP Stays Open - "Among the Most Efficient"

Courtesy IP...

International Paper Pineville, La., Mill to Remain Operational

MEMPHIS, Tenn. – June 12, 2007—International Paper (NYSE:IP) today announced that its Pineville, La., containerboard mill will remain operational. The decision is the outcome of an extensive two-year study of options to strengthen the company’s North American containerboard business.

The company had explored alternatives, including possible closure, for the Pineville, La., containerboard mill as part of its transformation plan, announced in 2005. However, the mill has achieved dramatic cost improvement in the past two years, and is now among the most globally cost efficient mills in the system. With global box demand expected to grow at a healthy rate, keeping Pineville as part of the containerboard system will allow the company to further integrate its box businesses in Europe and Asia.

“This announcement is excellent news for the employees of the Pineville mill, their families, and the Central Louisiana community that supports us. It took an incredible amount of hard work and determination on the part of the Pineville Team to make the difficult changes required to make this mill competitive and thus allow the company to continue operations in Pineville. I want to express my heartfelt thanks to everyone who has helped us get to this point. I have no doubt that this team will do what is required to keep Pineville competitive,” said Scott Moorhead, site manager of the Pineville Mill.

The Pineville mill was acquired by International Paper in 1979. The mill today employs approximately 226 people. The mill produces containerboard for corrugated packaging to supply produce, agricultural, poultry and industrial customers.

International Paper (NYSE:IP), founded in 1898, is a global uncoated paper and packaging company with primary markets and manufacturing operations in North America, Europe, Russia, Latin America, Asia and North Africa. Its uncoated papers and packaging businesses are complemented by xpedx, North America's largest distributor of printing papers and graphics supplies and equipment. Headquartered in the United States, International Paper employs approximately 54,000 people in more than 20 countries, and serves customers worldwide. Annual sales are about $22 billion. International Paper partners with customers and environmental, academic, civic and governmental organizations, as well as landowners and harvesting professionals, to encourage responsible forest stewardship, improve the health and productivity of forestlands and increase recovery of our recyclable products. The company has a long-standing policy of using no wood from endangered forests. To learn more about International Paper, its products and commitment to economic, social and environmental sustainability, visit www.internationalpaper.com.

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