International Paper

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International Paper Company
Type Public
Traded as NYSE: IP
S&P 500 Component
Industry Pulp and paper
Founded 1898
Headquarters Memphis, Tennessee, U.S.
Area served Worldwide
Key people John V. Faraci
(Chairman and CEO)
Revenue Increase US$ 26.034 billion (2011)[1]
Operating income Increase US$ 2.216 billion(2011)[1]
Net income Decrease US$ 1.341 billion (2011)[1]
Total assets Increase US$ 26.993 billion (2011)[1]
Total equity Decrease US$ 6.960 billion (2011)[1]
Employees 61,500 (2011)[1]
Website InternationalPaper.com

International Paper Company (NYSE: IP) is an American pulp and paper company, the largest such company in the world.[2] It has approximately 61,500 employees, and it is headquartered in Memphis, Tennessee.[1][3]

Contents

History[edit]

One of the 18 original founding mills of International Paper c. 1908, built in 1888 as the Otis Falls Pulp & Paper Company at Chisholm, Maine

International Paper was incorporated January 31, 1898, upon the merger of 18 pulp and paper mills in the northeastern United States. Its first president was Hugh J. Chisholm.[4] The newly-formed company supplied 60 percent of all newsprint in the country.[citation needed]

Hudson River Mill[edit]

See also: History of papermaking in New York

The Hudson River Mill in Corinth, where the Sacandaga River joins the Hudson river, was a major pioneer in the development of the modern paper industry in the late 19th century.[5][6] The first wood-based paper (newsprint) mill in New York, it was built by Albrecht Pagenstecher in 1869.[7]

In the early 20th century, the Hudson River Mill was one of International Paper's largest plants and served both as the Company's principal office, and a place where paperworkers helped shape the direction of the industry's early labor movement.

After World War II, Hudson River Mill workers developed and perfected the production of coated papers for International Paper. Shifting economic forces resulted in the mill's closure in November 2002.[8][9] The historic mill was slated for demolition in 2011.[10]

Acquisitions, 1986-2000[edit]

In 1986, International Paper 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 1996, International Paper purchased Federal Paper Board.[11] In 1999, it purchased Union Camp Corporation, and in 2000 Champion International Paper. Additionally, International Paper owns shares in the Chilean company Copec.

Acquisitions-2011, APPMills Rajahmundry, India[edit]

Andhra Pradesh Paper Mills Rajahmundry, which is now an International Paper company, is one of the biggest integrated paper and pulp manufacturing centers in India. The company produces writing, printing, and copier papers for foreign and domestic markets. APPM’s production facilities are two mills in Rajahmundry and Kadiam with a total production capacity of 240,000 TPA. The company is becoming a driving force in sustainability in the paper manufacturing arena through focused social and community programs, including pioneering work in raw material generation through social farm forestry. International Paper owns a majority interest in APPM, and the remaining shares are publicly traded on the Bombay and National Stock Exchange of India (APPAPER).

Restructuring, 2005-2006[edit]

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.[12] 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]

International Paper's logo was designed by American graphic designer Lester Beall in 1960.[13]

Products and corporate structure[edit]

One of the old mills in the former "mill town" of Berlin, New Hampshire owned by the International Paper, c. 1912
Pulp and converting paper mill, located in Georgetown, South Carolina.
Factory in Kwidzyn, Poland, at night

International Paper is the largest producer of plastic lids and paper cups, manufacturing for the fast-food giants McDonald's, Wendy's, Subway and coffee giant Starbucks. The wood products division of International Paper was sold in 2007 to West Fraser Timber Co. Ltd., a company headquartered in Vancouver. The company currently produces printer and copier paper, envelopes, corrugated packaging and shipping containers, consumer packaging for cosmetics, 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 Corporation and Eastman Kodak. Beginning February 1, 2007 the sale of the beverage packaging division was completed as New Zealand billionaire Graeme Hart won the bid with a nearly 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.

See also[edit]

References[edit]

  1. ^ a b c d e f g "2011 Form 10-K, International Paper Company". United States Securities and Exchange Commission. 
  2. ^ "International Paper Treads Monsanto’s Path to ‘Frankenforests’". Bloomberg. Retrieved June 11, 2010.
  3. ^ Davidoff, Steven M. The New York Times http://topics.nytimes.com/top/news/business/companies/international_paper_company/index.html |url= missing title (help). 
  4. ^ "A Short History of International Paper: Generations of Pride" Forest History Today, 1998
  5. ^ The Hudson River Mill Project
  6. ^ http://www.adirondackbranch.net/sIP.html
  7. ^ History: The Pagenstecher Family: From Rags to Riches
  8. ^ http://phx.corporate-ir.net/phoenix.zhtml?c=73062&p=irol-newsArticle&ID=307127& highlight=
  9. ^ About: The Hudson River Mill Project
  10. ^ Former paper mill site in Adirondacks to be demolished
  11. ^ [www.nytimes.com/1995/11/07/business/international-paper-plans-to-buy-federal-paper-board.html International Paper Plans to Buy Federal Paper Board]
  12. ^ KapStone Ready to Roll
  13. ^ "International Paper Logo: Design and History". FamousLogos.us. Retrieved 2011-10-12. 

External links[edit]

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