United States

International Paper Co (IP)

IP on New York Consolidated

17 Feb 2017
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Latest Key Developments (Source: Significant Developments)

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

International Paper Co declares dividend
Tuesday, 12 May 2015 04:01pm EDT 

International Paper Co:Declares quarterly dividend of $0.40 per share for period from April 1 to June 30 inclusive on common stock, par value $1.Payable on June 15 to holders of record date as on May 26.  Full Article

International Paper finalizes sale of Carolina Brand
Thursday, 30 Apr 2015 03:00pm EDT 

International Paper:Finalizes sale of the Carolina coated bristols brand to MeadWestvaco.As part of the sale agreement and to ensure a smooth transition for customers, International Paper will manufacture Carolina branded products for MWV until the end of year.Financial terms of the sale were not disclosed.International Paper's coated paperboard and printing papers businesses are strategic to the company's global portfolio.Company will continue to manufacture coated paperboard products to support customer demand in the food service and packaging markets.Company's commercial print portfolio, which includes the Hammermill, Accent Opaque, Williamsburg Offset and the Springhill brands, will continue to be a valued part of International Paper's merchant product portfolio.  Full Article

MeadWestvaco Corp to acquire the Carolina coated bristols business from International Paper Company
Tuesday, 31 Mar 2015 09:25am EDT 

MeadWestvaco Corp:Enters into definitive agreement to acquire the Carolina coated bristols business from International Paper Company.Terms of the transaction were not disclosed and transaction is expected to close by the end of April.  Full Article

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BRIEF-International Paper reports Q4 earnings per share $0.53

* International Paper reports fourth quarter and full year 2016 earnings