Displaying items by tag: International Paper

International Paper will host an Investor Day conference on May 24 in New York City, with a live webcast beginning at 11:45 a.m. Reflecting the meeting theme of "Reaching Our Potential," the company will outline its global business strategy as well as the earnings and cash flow capability of its current portfolio. The event will be hosted by Chairman and CEO John Faraci and will include presentations by Chief Financial Officer Carol Roberts, along with Senior Vice Presidents of the business segments.

Interested parties may listen to the webcast via International Paper's Internet site at http://www.internationalpaper.com by clicking on the Investors tab and then clicking on the Webcasts and Presentations link. The webcast is expected to end by 5 p.m. A replay of the webcast will be available on the web site the following day.

SOURCE International Paper

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For the sixth straight year, International Paper was named as one of the World's Most Ethical Companies by The Ethisphere Institute. Despite a record number of global nominees, International Paper secured a spot on the list by maintaining its focus on the ethical business practices and standards that have defined the Company since its inception more than 100 years ago.

"In all of our endeavors around the globe, from safety performance to environmental stewardship to running our businesses, our actions come down to one simple principle – doing the right things for the right reason. International Paper is proud to be recognized as one of the World's Most Ethical Companies for the sixth straight year," said John Faraci, Chairman and CEO of International Paper.

"Since our Company's founding in 1898, International Paper has been defined by a commitment to ethical behavior and personal integrity," said Sharon Ryan, senior vice president, General Counsel & Corporate Secretary. "At International Paper, we are accountable for all that we do and it's a culture embraced by our 70,000 employees worldwide."

This is the sixth year Ethisphere has published the WME rankings. Ethisphere reviewed hundreds of companies and evaluated a record number of applications through in-depth research and multi-step analysis, naming the companies that surpassed their industry peers to this year's World's Most Ethical Companies list. The 2012 list features companies in more than three dozen industries, including 40 companies headquartered outside the United States.

"A strong ethical foundation is a competitive advantage, and International Paper recognizes the important role corporate responsibility plays in improving its bottom line," said Alex Brigham, executive director of the Ethisphere Institute. "As more and more organizations strive for this honor each year, International Paper's inclusion as a World's Most Ethical Company for 2012 demonstrates its industry-leading commitment to ethics and dedication to integrity."

The methodology used to develop WME rankings includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.

SOURCE International Paper

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The U.S. Environmental Protection Agency (EPA), the Association of Climate Change Officers (ACCO), the Center for Climate and Energy Solutions (C2ES) (formerly the Pew Center on Global Climate Change), and The Climate Registry (TCR) named International Paper (NYSE: IP) among the winners of the inaugural Climate Leadership Awards. International Paper was recognized for aggressively managing and reducing green house gas (GHG) emissions.

"This award reaffirms our commitment to continuous improvement and reductions in our environmental footprint.  Efforts to improve the environment are most successful when stewardship and business results go hand-in-hand," said Teri Shanahan, International Paper vice president of Sustainability.

During the past decade, International Paper has reduced its greenhouse gas emissions from fossil fuels by 40 percent and has committed to reducing another 20 percent by 2020.  "We are also proud of the fact that close to 70 percent of our energy needs are being met with carbon- neutral biofuels," Shanahan added. 

"International Paper and all of our Climate Leadership Award winners demonstrate that organizations who are taking action to mitigate climate change are also operating more efficiently, more innovatively, and more competitively," saidGina McCarthy, assistant administrator for EPA's Office of Air and Radiation.

International Paper was one of 20 organizations, and the only forest products company, recognized for its leadership in addressing climate change and reducing carbon pollution. 

"C2ES joins EPA and our partners in congratulating International Paper as an inaugural recipient of the Climate Leadership Awards," said C2ES President Eileen Claussen. "International Paper demonstrates every day that it's possible to manage your carbon footprint without compromising your bottom line. Corporate leadership is essential to meeting our climate and energy challenges. International Paper's accomplishments will inspire other companies to act and contribute to strong, sensible policies benefiting both our economy and our climate."

The awards were presented at the inaugural Climate Leadership Conference in Fort Lauderdale, Fla. The conference brought together leaders from business, government and academic institutions who are interested in exchanging best practices on how to address climate change while simultaneously running more competitive and sustainable operations.

More information about the Climate Leadership Awards and award winners can be found at  http://epa.gov/climateleadership/awards/2012winners.html

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International Paper Company has announced that it has completed its acquisition of Temple-Inland Inc. through the merger of its wholly owned subsidiary Metal Acquisition Inc. with and into Temple-Inland.  Temple-Inland is now a wholly owned subsidiary of International Paper.  Under the terms of the transaction, each issued and outstanding share of Temple-Inland common stock has been converted into the right to receive $32.00 in cash, without interest thereon, and less any applicable withholding taxes.  Including the assumption of approximately $700 million in Temple-Inland net debt, the total transaction value is approximately $4.5 billion.

As a result of the acquisition, Temple-Inland's common stock will cease trading on the New York Stock Exchange today. International Paper Chairman and CEO John Faraci said, "We are very pleased to have completed this compelling transaction.  The combination of International Paper and Temple-Inland strengthens our North American packaging business and enhances our ability to generate cash flow while maintaining our strong balance sheet.  We look forward to working with the employees of Temple-Inland as we successfully integrate our businesses and create an even stronger company with substantial benefits for our customers, employees and shareholders." 

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International Paper Company and Temple-Inland Inc. have announced that they have reached an agreement with the Antitrust Division of the U.S. Department of Justice ("DOJ") with respect to International Paper's acquisition of Temple-Inland.  As part of the agreement, the DOJ has entered into a consent decree with International Paper and Temple-Inland that allows the combination to proceed.  The companies expect to complete the transaction promptly.

Under the terms of the consent decree filed in federal court in the District of Columbia, the combined company will undertake the post close divesture of 970,000 tons of containerboard mill capacity within four months, with the possibility of two 30-day extensions. The company agreed to divest Temple-Inland's facilities in OntarioCalifornia and New Johnsonville, Tennessee, and International Paper's facility in Hueneme, California.  International Paper reaffirms that it expects to achieve at least $300 million of synergies within twenty-four months of closing.

International Paper Chairman and CEO John Faraci said, "We are pleased to have reached an agreement with the DOJ that addresses their concerns and preserves the value in the combination of these two fine companies. As we take the final steps to closing, we look forward to a smooth integration and to realizing the substantial benefits this transaction provides our customers, employees and shareholders."

Published in North American News

International Paper Company (NYSE: IP) and Temple-Inland Inc. (NYSE: TIN) has announced that they have agreed to extend the U.S. Department of Justice's ("DOJ") review period with respect to International Paper's acquisition of Temple-Inland until February 13, 2012 to provide the parties with time to enter into binding documentation to resolve the DOJ's concerns with respect to the pending transaction.

International Paper Chairman and CEO John Faraci said, "We have been working constructively with the DOJ to address their concerns and anticipate entering into a definitive agreement on terms that are acceptable to all parties.  The acquisition of Temple-Inland is a compelling value proposition for International Paper shareholders, and will create numerous benefits for our customers and employees."

SOURCE International Paper

Published in North American News

International Paper will release fourth-quarter and full-year 2011 earnings on Thursday, Feb. 2, before the opening of the New York Stock Exchange. The company will host a webcast to discuss earnings and current market conditions at 9 a.m. ET (8 a.m. CT) that day. All interested parties are invited to listen to the webcast via the company's Internet site at http://www.internationalpaper.com by clicking on the Investors tab and going to the Webcasts and Presentations page. A replay of the webcast will also be on the Web site beginning approximately two hours after the call.


Parties who wish to participate in the webcast via teleconference may dial +1 (706) 679-8242 or, within the U.S. only, (877) 316-2541, and ask to be connected to the International Paper Fourth-Quarter Earnings Call. The conference ID number is "40191658." Participants should call in no later than 8:45 a.m. ET (7:45 a.m. CT). An audio-only replay will be available for four weeks following the call. To access the replay, dial +1 (706) 645-9291 or, within the U.S. only, (800) 642-1687, and when prompted for the conference ID, enter "40191658."

The company has tentatively scheduled the following earnings release dates for 2012:

First Quarter 2012: Thursday, April 26
Second Quarter 2012: Thursday, July 26
Third Quarter 2012: Thursday, October 25

SOURCE International Paper

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Temple-Inland Inc. announced that at its Special Meeting of Stockholders held today, Temple-Inland stockholders voted to approve the adoption of the merger agreement with International Paper Company (IP), with 86,908,118 shares of Temple-Inland common stock voting in favor of the merger, representing over 98 percent of the shares voted. All other matters submitted to a vote of the stockholders were also approved.

Completion of the merger is subject to other customary closing conditions, including the receipt of regulatory approval.

About Temple-Inland Inc.

Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of 7 mills and 57 converting facilities. The building products operation manufactures a diverse line of building products for new home construction, commercial and repair and remodeling markets. Temple-Inland's address on the World Wide Web is www.templeinland.com.

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SOURCE: Temple-Inland Inc.

Published in North American News

Goals Build on 40% Greenhouse Gas Emissions Decrease in the U.S. Achieved during the Last Decade

 

International Paper (NYSE: IP) is committing to use 15 percent less energy and to reduce its absolute greenhouse gas emissions by 20 percent by 2020. Using 2010 as a baseline, these goals are the first in a set of comprehensive sustainability goals the company will announce in the next six months.

"Our commitment to sustainability spans our 110 year history and these goals are a natural next step in demonstrating that we can make the products that matter to people in a way that matters," said David Kiser, International Paper vice president, environment, health, safety & sustainability.

International Paper plans to achieve these reductions by increasing manufacturing efficiencies, exploring new technologies and engaging our employees to find innovative solutions in its operations.

"The goals of improving energy efficiency and reducing greenhouse gas emissions go hand-in-hand. Less energy means fewer emissions and in the last five years we have been able to reduce our energy usage by 12 percent. We are confident we can achieve these goals while still delivering our industry leading products, performance and customer service," Kiser added.

International Paper is announcing these goals in conjunction with recent recognition it received from the Environmental Protection Agency's (EPA) Climate Leaders program for achieving voluntary fossil fuel greenhouse gas emission reductions of more than 40 percent from 2000 to 2010.

"We congratulate International Paper for meeting their goal to reduce greenhouse gas emissions through the Climate Leaders Program," said Beth Craig, EPA's Acting Director of the Office of Atmospheric Programs. "They are proving that they can be both industry leaders and leaders in the fight against climate change."

EPA's Climate Leaders is an industry-government partnership that works to develop comprehensive climate change strategies. Participating companies commit to reduce their impact on the global environment by completing a corporate-wide inventory of their greenhouse gas emissions based on a quality management system, setting aggressive reduction goals, and annually reporting their progress to EPA. Program participants are recognized by the EPA as corporate environmental leaders.


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International Paper has announced the following three senior leadership moves effective Nov. 1, 2011.

  • Tim Nicholls named senior vice president, Printing and Communications Papers, the Americas
  • Carol Roberts named senior vice president and Chief Financial Officer, IP
  • Mark Sutton named senior vice president, Industrial Packaging

Tim Nicholls is being named senior vice president, Printing and Communications Papers, the Americas. In this role, Nicholls will have responsibility for the Commercial Printing and Imaging Papers, and Converting Papers and Pulp businesses, as well as IP Latin America, which includes IP Brazil.

John Faraci, Chairman and Chief Executive Officer, said, "Tim has led the IP finance function as CFO for the past four years and during that time has built a stronger more effective organization. He knows our businesses and can apply his deep understanding of IP's financial levers directly to our North American and Latin American uncoated freesheet paper businesses."

Carol Roberts is being named senior vice president and Chief Financial Officer, International Paper. In addition to her responsibilities as CFO, Roberts will lead the Finance organization, including Internal Audit, Tax, Accounting, Trust Investments, Investor Relations and Treasury. Information Technology and Strategic Planning will also report to Roberts. The IP Audit team will continue to report jointly to the CFO and Chairman and CEO.

"Carol has done an excellent job building, leading and strengthening our Industrial Packaging business over the past seven years," Faraci said. "Her business expertise and strong leadership skills make her an excellent choice for this significant enterprise role."

Mark Sutton is being named senior vice president, Industrial Packaging. In this role Sutton will have responsibility for Containerboard, Container the Americas and Recycling.

"Mark's taking this business at an important time," said Faraci. "His leadership skills, supply chain and company knowledge complement the already strong industrial packaging team as they plan and prepare to integrate Temple Inland's packaging business."

Commenting on the overall leadership changes, Faraci said, "International Paper has a strong and deep bench and these moves reflect the talent of the entire senior leadership team. These changes also demonstrate our commitment to people development and give these individuals opportunities to continue to broaden their experience base and contribute to the future success of International Paper."

SOURCE International Paper

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