Valliant, Oklahoma, USA, 09 September 2008 -- /PRNewswire/ -- International Paper (NYSE: IP) today announced plans for an indefinite shutdown of its No. 3 paper machine at the Valliant mill in Oklahoma, as of 01 November. This machine produces approximately 430,000 tons annually of containerboard, used to make corrugated packaging.
"The decision to shut down this machine will enable us to match our production to our customer needs and limit our exposure to high fiber and other input costs in the area," said Carol Roberts, senior vice president of IP's Industrial Packaging business. "Nevertheless, this decision will impact very good, hardworking people, and we are taking steps to support them."
Approximately 60 jobs will be affected at the mill as a result of the machine shutdown. The company will provide severance and outplacement assistance to affected employees.
Key grades produced on the No. 3 machine will be transitioned to other mills to meet customers' needs.
Before the shutdown of Valliant No. 3, International Paper's North American containerboard production has been about 11.5 million tons per year.
About International Paper
International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tennessee, the company employs more than 65,000 people in more than 20 countries and serves customers worldwide. 2007 net sales were approximately USD 22 billion. For more information about International Paper, its products, and its stewardship efforts, visit http://internationalpaper.com