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International Paper Evaluates Strategic Alternatives for Portions of Its Specialty Papers Business

Press release from the issuing company

STAMFORD, Conn., Aug. 4 -- International Paper today announced the company will evaluate strategic alternatives for its Industrial Specialty Papers Business, which includes the lightweight packaging papers and pressure sensitive papers segments and related converting assets. Included in the business segments to be evaluated are the DePere and Kaukauna, Wis., Mills, the Akrosil business with facilities in Menasha, Wis., Lancaster, Ohio, and Heerlen, Netherlands; and Thilmany Packaging located at the Kaukauna Mill. The company intends to evaluate these facilities as one business and will continue to operate these facilities during the evaluation process to provide ongoing service to customers. "These are good business operations with a solid customer base and a dedicated team of employees," said Wayne Brafford, senior vice president, Industrial Packaging Group." While this is a tough decision, this evaluation could help us to better focus our asset portfolio on growth areas." Lightweight packaging papers and pressure sensitive papers are used in such applications as pressure sensitive labels, food and industrial packaging and consumer hygiene products. Annual production capacity of the assets is approximately 400,000 tons.