International Paper

“one of the IP mills that shut down, we were able to move some of that volume to our OSB mill”

An International Paper mill shutdown removed a pulpwood buyer, which Weyerhaeuser offset by redirecting fiber to its own OSB mill, signaling continued pulp and paper capacity closures.

“market softness and negative price movements have made the start to the DS Smith acquisition challenging.”

IP's acquired DS Smith (EMEA packaging) is off to a challenging start amid European demand softness and falling paper prices.

“We wish them continued success as they team up with American Industrial Partners.”

International Paper is divesting its Global Cellulose Fibers (GCF) business to private equity firm American Industrial Partners, which is acquiring the unit.

“This includes the finalized required sale of 5 plants in France, Spain and Portugal to the PALM Group announced earlier this month.”

International Paper completed a required divestiture of 5 EMEA plants to PALM Group as a condition of the DS Smith acquisition approval.

“We launched 80/20 a year ago, and we did the same at the close of the DS Smith acquisition.”

International Paper's acquisition of DS Smith is the centerpiece of its EMEA transformation strategy, with an 80/20 operating model deployed at close and integration synergies now flowing through EBITDA.

“As you know, last week, the competition authorities of the European Commission approved the proposed acquisition of DS Smith by International Paper with conditions. The EC identified minimal concerns about the acquisition's impact on competition in certain areas. To resolve those concerns, we have agreed to divest 5 box plants in Northern France, Northern Spain and Portugal within the next 6 months.”

The European Commission cleared IP's acquisition of DS Smith subject to IP divesting five box plants in France, Spain, and Portugal to address antitrust concerns.

“I'm excited to share that today, DS Smith appeared before the court in the U.K. to get final approval, and we officially expect to close the DS Smith transaction at the end of the day tomorrow, U.S. time, Friday, January 31.”

International Paper announces its acquisition of UK-listed packaging company DS Smith has cleared its final U.K. court approval and is set to close the next day, creating what IP calls the global leader in sustainable packaging.