Brussels, Belgium, and Memphis, Tennessee, USA, 17 February 2009 -- /PRNewswire/ -- International Paper announced today that it will close its Inverurie, Scotland, mill by the end of March. A three-month employee consultation process failed to find a financially viable alternative future for the mill.
The closure removes 250,000 metric tons of uncoated freesheet capacity from International Paper's European output.
Commenting on the announcement, Mary Laschinger, president of International Paper Europe, Middle East, Africa and Russia, said, "Over the last three months, we have worked hard together with the appropriate representatives to evaluate alternatives for the future of the mill. Unfortunately, none of the options provided a business plan that was financially viable and that would safeguard jobs.
"I am very saddened for our people and the local community that we had to come to this decision but we have acted in order to match our machine capacity to the paper volumes demanded by our customers," she said. "Our focus now is on helping our people make the transition into new employment and to continue our efforts, with government agencies and others, to market the site for future reindustrialization."
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, USA, the company employs more than 61,500 people in more than 20 countries and serves customers worldwide. 2007 net sales were approximately USD 25 billion. For more information about International Paper, its products, and its stewardship efforts, visit internationalpaper.com.
In Europe, the Middle East and Africa (EMEA), International Paper focuses on the production and marketing of office papers and paper-based packaging. The company is a leading supplier of cutsize paper and offers an extensive range of papers for a multitude of uses in the office paper segment.