US pulp, paper and packaging company International Paper (IP), Memphis, is undergoing a transformational process to become, as the company says, a “stronger, more profitable sustainable packaging company.” Under its 80/20 strategy the company is implementing a series of actions to strengthen operations and drive better performance. By the end of the year, IP will have cut more than 1,800 jobs and closed several plants in the US, including the Georgetown pulp and paper mill, the company announced. The measures are expected to deliver a $230m improvement in adjusted Ebidta on a full-year run rate. Total one-time costs of the strategic actions is said to amount to $390m, including $235m in depreciation.
In addition, IP announced to review strategic options for the Global Cellulose Fibers (GCF) business. The company is evaluating all possible options including the divestment of the whole or parts of the pulp division....
