International Paper to Shutter Texas Packaging Plant in Ongoing Network Overhaul
IP sits 26% above its 52-week low of $29.26.
Summary
International Paper is closing its Carrollton South, Texas packaging facility by the end of the third quarter, as part of a network optimization strategy. This follows recent closures of an Aurora, IL sheet plant and three converting facilities, plus the cessation of preprint operations in Kentucky. The company is reshaping its North American packaging footprint, balancing new investments like the $225M Mississippi facility with consolidation of older assets. Affected employees will receive severance, continued benefits, and outplacement support. The pattern signals a sustained cost-reduction push that could improve margins over time. No job loss figures or financial impact were disclosed.
At the time of this announcement, IP was trading at $36.78 on NYSE in the Manufacturing sector, with a market capitalization of approximately $19.5B. The 52-week trading range was $29.26 to $56.13. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.