International Paper
From Wikipedia, the free encyclopedia
 |
This article is written like an advertisement. Please help rewrite this article from a neutral point of view. For blatant advertising that would require a fundamental rewrite to become encyclopedic, use {{db-spam}} to mark for speedy deletion. (July 2009) |
 |
|
| Type | Public |
|---|---|
| Founded | 1898 |
| Headquarters |  Memphis, Tennessee |
| Key people | John V. Faraci, CEO & Chairman |
| Products | Paper & Paper products |
| Revenue | US$ 22.3 billion (2008) |
| Net income | US$ 1.17 billion (2008) |
| Employees | 51,500 |
| Website | www.internationalpaper.com |
International Paper (NYSE: IP) is an American pulp and paper company, the largest pulp and paper company in the world. It has approximately 51,500 employees. Its global headquarters are currently in Memphis, Tennessee.
Contents |
[edit] History
International Paper was formed by Hugh J. Chisholm and two associates on January 31, 1898 with the merger of 18 pulp and paper mills in the northeastern United States[1]. This merger was a milestone in the history of American newsprint, as the newly formed company now supplied 60 percent of all newsprint in the country. Through acquisitions and capital investment, the company grew both in the United States and internationally. In 1986, it acquired the HammerMill Paper Company, in 1988 the Masonite Corporation, and in 1989 the German paper company Zanders Feinpapiere AG and the French paper manufacturer Aussedat Rey. In addition, International Paper has shareholdings in the Chilean company Copec. In 1999, International Paper purchased Union Camp Corporation and in 2000 purchased Champion International Paper.
In 2005 and 2006, International Paper undertook significant restructuring, selling over 6,000,000 acres (24,000 km2) of forestland in the U.S., along with its coated paper, kraft paper, wood products, and beverage packaging businesses, as well as subsidiaries Arizona Chemical and New Zealand-based Carter Holt Harvey. The coated paper business (four mills in Maine, Michigan and Minnesota) were sold to Apollo Management and now operate as Verso Paper. The kraft paper business (composed of a kraft paper mill in Roanoke Rapids, North Carolina and a dunnage bag plant in Fordyce, Arkansas) was sold to Kapstone Paper and Packaging and operates as Kapstone Kraft Paper[2]. The beverage packaging business, now called Evergreen Packaging, was purchased by Carter Holt Harvey, following the purchase of CHH by Graeme Hart. International Paper sold the Wood Products division of the company to West Fraser Timber Inc., out of Vancouver, British Columbia. This included 13 sawmills, making West Fraser the second largest producer of lumber in North America, next to Weyerhaeuser Company.
[edit] Products and corporate structure
International Paper is the largest producer of plastic lids and paper cups, manufacturing for the fast-food giants McDonalds, Wendys, Subway and coffee giant Starbucks. The Wood Products division of International Paper was sold in 2007 to West Fraser Timberland Inc., a company headquartered in Vancouver. The company currently produces printer and copier paper, envelopes, corrugated packaging and shipping containers, consumer packaging for cosmetic, home entertainment and other retail markets, and food service packaging. It also owns Xpedx, a large North American distribution and logistics company.
International Paper is a former Dow Jones Industrial Average component, listed in the index from July 3, 1956 to April 7, 2004. It was one of three components to be dropped in the 2004 change, together with AT&T and Eastman Kodak.
Beginning February 1, 2007 the sale of the beverage packaging division was completed as New Zealand billionaire Graham Hart won the bid with nearly an 800 million dollar purchase. The division now operates under the Evergreen label.
On Monday March 17, International Paper, announced it is buying the containerboard unit of Weyerhaeuser Co. for $6 billion in cash.
In October 2007, International Paper formed a joint venture with Ilim Holding, Ilim Group, the alliance in the Russian forest sector.
[edit] References
[edit] External links
- Company website
- "A Short History of International Paper: Generations of Pride" (Forest History Today, 1998)
- Inventory of the Champion International Corporation Image Collection, 1950 - 1979 in the Forest History Society Library and Archives, Durham, NC
- Yahoo profile
