Edition:
United States

International Paper Co (IP)

IP on New York Consolidated

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25 Sep 2017
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Latest Key Developments (Source: Significant Developments)

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

BRIEF-International Paper to continue participation in Trump's manufacturing jobs council

* International Paper says through participation on manufacturing jobs council, "we will work to strengthen the social and economic fabric of communities"‍​ Further company coverage: