Edition:
United States

International Paper Co (IP)

IP on New York Consolidated

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24 May 2017
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Latest Key Developments (Source: Significant Developments)

International Paper Co enters into commercial paper program
Friday, 17 Jun 2016 08:17am EDT 

International Paper Co : International paper co says entered into a commercial paper program . May issue notes from time to time in an aggregate amount not to exceed $750 million outstanding at any time . Notes will have maturities of up to 365 days from date of issue - sec filing .Commercial paper program pursuant to which international paper may issue short-term, unsecured commercial paper notes.  Full Article

International Paper says goal of meeting or exceeding GFSI standards at all their U.S. Foodservice facilities by end of 2016
Wednesday, 25 May 2016 01:01pm EDT 

International Paper Co :Says goal of meeting or exceeding GFSI standards at all their U.S. Foodservice facilities by end of 2016.  Full Article

International Paper to acquire Weyerhaeuser's Pulp Business for $2.2 billion
Monday, 2 May 2016 08:00am EDT 

International Paper:Has entered into a definitive agreement to purchase Weyerhaeuser's pulp business.International Paper forecasts annual synergies of approximately $175 million by the end of 2018, which will require the need for one-time costs of approximately $85 million.Acquisition is expected to close in the 4th quarter of 2016.International Paper expects to realize a tax benefit with an estimated net present value of approximately $300 million.  Full Article

International Paper increases its annual cash dividend by 10%
Tuesday, 13 Oct 2015 04:01pm EDT 

International Paper:Increased the company's regular quarterly dividend by 10 percent from $0.40 to $0.44 per share for the period from October 1, 2015, to December 31, 2015, inclusive, on its common stock, par value $1.00.Says this increased regular dividend is payable on December 15, 2015, to shareholders of record at the close of business on November 16, 2015.  Full Article

International Paper to Exit Chinese Coated Board Joint Venture
Thursday, 8 Oct 2015 09:03pm EDT 

International Paper:Entered into a definitive agreement with its Chinese coated board joint venture partner, Shandong Sun Holding Group Co., Ltd., to sell its 55% equity interest in the joint venture (IP-Sun JV).As consideration for the sale, the Company will receive RMB 149 million (or approximately US$23 million) in cash.Additionally, the Company will remove approximately $400 million of currently outstanding debt from the Company's balance sheet, along with the other assets and liabilities of the IP-Sun JV, following completion of the transaction.International Paper also announced today that it is pursuing strategic options for its corrugated box business in China and South East Asia and has signed a non-binding letter of intent with a prospective buyer based in China.  Full Article

Employee's death at International Paper Co Ticonderoga plant - OSHA
Thursday, 23 Jul 2015 08:00pm EDT 

International Paper Co:Says the death of an employee at Ticonderoga plant could have been prevented if his employer provided proper safeguards and training, an inspection by the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) has determined.The 57-year-old general mechanic was removing burned filter bags of combustible fly ash dust from a dust collector in the facility's power plant and replacing them with new bags when the fly ash ignited, He sustained severe burns as a result and subsequently died.The agency opened its inspection on Jan. 24, and found that International Paper failed to supply the employee with necessary fire-resistant clothing and did not train him and employees on the specific physical hazards of combustible fly ash.In addition, the system for conveying and collecting the fly ash was deficient, it had not been inspected for defects, did not comply with National Fire Protection Association standards and had not been maintained adequately.OSHA says this worker's death was preventable.  Full Article

International Paper Co declares quarterly dividend
Tuesday, 14 Jul 2015 12:35pm EDT 

International Paper Co:Declares quarterly dividend of $0.40 per share for the period from July 1, to Sept. 30.Payable on Sept. 15 to holders of record at the close of business on Aug. 14.  Full Article

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