Many pulp and paper companies are suspending operations in Russia. International Paper is now thinking about options concerning the Ilim Group joint venture. The company has also a stake in Sylvamo which is in the process of stopping production in Russia.
International Paper (IP) is reacting to Russia's invasion of Ukraine. The US company is thinking about possible measures to be taken concerning the Ilim Group in Russia, in which it has a 50 per cent joint venture interest.
"We are actively reassessing with all of the stakeholders involved our options for our investment in Ilim," IP's CEO Mark Sutton said during the Bank of America Global Agriculture and Materials Conference on 2 March. The situation was changing every day in a number of fronts, whether it was regulations in country, regulations outside the country or sanctions, Mr Sutton explained.
Sylvamo considers exiting operations in Russia
IP has also a 20 per cent stake in pulp, paper and board producer Sylvamo. The company announced it will halt operations in Russia and assess various options which could include a sale or exit from the Russian market.
To read the full article and learn more about International Paper's Russian operations please read our e-paper, which will be available from 16 March.Online subscribers can access it here.
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