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International Paper
From Wikipedia, the free encyclopedia
| International Paper Company | |
|---|---|
 |
|
| Type | Public |
| Founded | 1898 |
| Headquarters | Memphis, Tennessee |
| Key people | John V. Faraci, CEO & Chairman |
| Products | Paper & Paper products |
| Employees | 60,000 |
| Website | www.internationalpaper.com/ |
International Paper (NYSE: IP) is an American pulp and paper company, the second largest pulp and paper company in the world. It has approximately 60,000 employees. Its global headquarters are currently in Memphis, Tennessee.
Contents |
International Paper was formed in January 1898 by the merger of 17 pulp and paper mills in the northeastern U.S. 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. Most recently International Paper sold the Wood Products division of the company to West Fraser Timber Inc., out of Vancouver, B.C. This included 13 saw mills, making West Fraser the second largest producer of lumber in North America, next to Weyerhaeuser Company.
International Paper was the largest producer of plastic lids and cups, manufacturing for the fast-food giants McDonalds, Wendys, and Subway. They also produce printer and copier paper. They have sold this business as well.
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 replaced in the 2004 change with AT&T and Eastman Kodak.
Beginning February 1, 2007 the sale of the beverage packaging division will be completed as New Zealand billionaire Graham Hart won the bid with nearly an 800 million dollar purchase. The company will then operate under the Evergreen label. The completed sale will eliminate a big part of the international paper business, but will generate cash to help eliminate debt in the company.
Researchers at the University of Massachusetts Amherst identified International Paper as the 27th-largest corporate producer of air pollution in the United States, releasing more than 35 million pounds of toxic compounds into the air annually. Major pollutants included sulfuric acid, manganese compounds, chromium, and chlorine dioxide.[1] International Paper has also been named a potentially responsible party in at least 31 Superfund sites.[2] In 2001 the corporation was one of more than 40 parties found responsible for the estimated $US 20 million cleanup of the Tri-Cities Barrel toxic waste site near Binghamton, NY.[3]
- ^ Political Economy Research Institute Toxic 100 retrieved 14 Aug 2007
- ^ Center For Public Integrity Superfund Project retrieved 14 Aug 2007
- ^ EPA press release
| Financial Information | ||
|---|---|---|
| 2005 | 2004 | |
| Revenue (US$M) |
24,097 | 23,359 |
| Net Income (Loss) (US$M) |
1,100 | (35) |