International Paper (NYSE: IP) today announced that it has completed the transfer of its North America Consumer Packaging business to Graphic Packaging. As a result of the transaction, Graphic Packaging has assumed $660 million of IP debt. IP now holds a 20.5% ownership interest in the subsidiary of Graphic Packaging that holds the assets of the combined business. The transferred business includes approximately 3,900 employees, two coated paperboard mills and three converting facilities in the U.S., along with one converting facility in the U.K.
http://internationalpaper2015.q4web.com/news-releases/press-r/2018/International-Paper-Completes-Transfer-of-Their-North-America-Consumer-Packaging-Business-to-Graphic-Packaging/default.aspx
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People are shopping online at a rate never before seen. As of September 2020, e-commerce sales increased 43% year over year, now reaching $60.4 billion in revenue, according to Adobe Analytics. As more people receive deliveries, consumers have become savvier with packaging solutions, developing a greater understanding of what makes an unboxing experience memorable. A curated unboxing experience is no longer a brand differentiator — it’s a must-have, according to BigCommerce. Aesthetics and customer experience aside, a recent study by California Polytechnic State University, in partnership with Pregis LLC, determined that a negative unboxing experience, such as one with excessive packaging, might hurt a company’s bottom line in the long run, particularly among Gen Z consumers. Here’s what you need to know:
International Paper announced that its board of directors elected Andy Silvernail as Chairman of the International Paper Board of Directors in addition to his role as Chief Executive Officer (CEO), effective October 1, 2024. Mark Sutton, who has continued to serve in the role of Chairman of the Board since retiring as CEO in May, will retire from the Board on September 30, 2024. International Paper Lead Director Chris Connor said, "On behalf of the Board of Directors, I'd like to thank Mark for his many years of service to IP and for his leadership as Chairman and CEO. During his tenure, he strengthened the company's balance sheet and focused the portfolio. He leaves behind a strong legacy, and we wish him and his family all the best."