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GEORGETOWN, S.C. (WCBD) – International Paper has announced the permanent closing of its Georgetown Pulp and Paper Mill, expected to impact 600-700 workers. Officials say the mill will shut down ...
International Paper owns Tower I (at 6400 Poplar) and occupies the entire property and leases 50,000 square feet in Tower II (at 6410 Poplar) and all of Tower III (at 6420 Poplar). [25] In 2000, International Place Tower III was designed and rests amid the two existing towers and courtyard.
The company was formed in August 2006 when Apollo Global Management purchased the coated and supercalendered paper business from International Paper. [2] [3] In April 2008, Verso conducted an initial public offering and was listed on the New York Stock Exchange. [4] In January 2015, Verso completed its acquisition of NewPage Holdings. [5]
In 2006, International Paper sold the plant to Verso Holdings, LLC, and 1,000 people worked in the mill at that time. In 2015, Verso laid off 300 workers. A year later, it filed for bankruptcy. In 2017, it laid off an additional 300 people and idled a machine. In April 2020, a wood pulp digester exploded, destroying the mill's pulp machines. [3]
While Fools should generally take the opinion of Wall Street with a grain of salt, it's not a bad idea to take a look at particularly stock-shaking analyst upgrades and downgrades -- just in case ...
Could this paper products giant end up on the block?
International Paper announced in September 2013 that it would shut down operations at its Courtland Mill facility in Courtland, Alabama, which had been one of the area's largest employers since 1970. [18] The abrupt announcement created economic and environmental concerns in Lawrence County, Alabama. Residents, current employees, and local ...
International Paper (NYS: IP) carries $2.3 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road.