International Paper Announces Network Optimization Strategy, Closing Plants By End Of Q3

(RTTNews) - International Paper (NYSE: IP; LSE: IPC) announced?strategic?actions?to optimize its network, focus investments on high-value opportunities and enhance North American customer service.?

As a result, the?company plans to?cease its preprint operations at its?Richwood, KY?facility, and close its Aurora, IL?sheet?plant?and converting plants?in Elk Grove, California and Barrington, New Jersey by the end of?the third quarter?2026.

The company stated that these steps are planned to strengthen its cost position, increase?capacity, and?provide?customers?with?the highest quality sustainable packaging solutions.

International Paper said it will support impacted employees with outplacement assistance, severance and benefits. The company expects to transition affected customers to other facilities within each region to ensure continuity of supply.

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