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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 ...
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]
In 2012, International Paper acquired Temple-Inland in a deal valued at $4.5 billion. Temple-Inland then became a wholly owned subsidiary of International Paper. At the time of sale, Temple-Inland's corrugated packaging operation consisted of 7 mills and 59 converting facilities as well as the building products operation. [21]
In December 2021, Swedish pulp and paper company BillerudKorsnäs announced a takeover of Verso, which was completed in 2022. [ 18 ] In January 2022, The state of Michigan announced a $244,451 settlement with Verso Corporation over national pollutant discharge elimination system violations at the company’s Escanaba Paper Mill [ 19 ] which ...
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?
The International Paper strike was a strike begun in 1987 by paper mill workers affiliated with the United Paperworkers' International Union (UPIU) at a number of plants in the United States owned by the International Paper (IP) company. The strike extended into 1988 and the company hired permanent replacements for workers.
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