- International Paper Co. will cut about 900 jobs due to production shutdowns
- The company will permanently close its containerboard mill in Orange, Texas
- Production on two pulp machines in Riegelwood, N.C. and Pensacola, Fla. will also cease
- Containerboard capacity will be reduced by about 800,000 tons
- Pulp capacity will be reduced by about 500,000 tons
- International Paper’s stock has rallied 13.2% over the past three months
International Paper Co. will be cutting approximately 900 jobs as a result of production shutdowns. The company has decided to permanently close its containerboard mill in Orange, Texas, and cease production on two pulp machines located in Riegelwood, N.C. and Pensacola, Fla. These closures will reduce containerboard capacity by about 800,000 tons and pulp capacity by about 500,000 tons. Despite this news, International Paper’s stock has seen a 13.2% rally over the past three months.
