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International Paper Announces Closure Date for Terre Haute Mill
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Memphis, Tennessee, USA, 07 August 2007 -- /PRNewswire/ -- Following its original mill closure announcement in May, International Paper (NYSE: IP) today announced it will officially close its Terre Haute, Indiana, containerboard mill on 01 October.

The decision to close the mill was the result of the company's study of options for strengthening its containerboard business. That study concluded that Terre Haute's limited production capacity hindered the mill's long-term competitiveness. The company explored selling the mill, but, ultimately, the same limitations that made continued operations unfeasible made sale unfeasible as well.

"Today's announcement brings the mill's operations to a final close," said Glenn Landau, vice president and general manager of International Paper's containerboard business. "We know this has been a difficult period for our employees, but we commend them for their dedication and professionalism in continuing to operate well and safely. We will continue to work closely with all of the affected employees to provide them with services, including severance and medical benefits, as well as job placement assistance."

The Terre Haute mill employs approximately 170 people and annually produces approximately 200,000 tons of medium, a type of paperboard used in corrugated packaging. The mill began operations in 1917 and was acquired by International Paper in 1998 as part of the company's acquisition of Weston Wabash Co.

About International Paper

International Paper (NYSE: IP), founded in 1898, is a global uncoated paper and packaging company with primary markets and manufacturing operations in North America, Europe, Russia, Latin America, Asia, and North Africa. Its uncoated papers and packaging businesses are complemented by xpedx, North America's largest distributor of printing papers and graphics supplies and equipment. Headquartered in the United States, International Paper employs approximately 54,000 people in more than 20 countries, and serves customers worldwide. Annual sales are about USD 22 billion. International Paper partners with customers and environmental, academic, civic, and governmental organizations, as well as landowners and harvesting professionals, to encourage responsible forest stewardship, improve the health and productivity of forestlands, and increase recovery of our recyclable products. The company has a long-standing policy of using no wood from endangered forests. To learn more about International Paper, its products and commitment to economic, social, and environmental sustainability, visit www.internationalpaper.com.

Source: International Paper


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