International Paper to sell remaining Russian interests
IP will sell its remaining interest to its joint venture partners for $484 million, according to a statement from the Memphis-based company. Related coverage:
There are 29 article(s) tagged International Paper:
IP will sell its remaining interest to its joint venture partners for $484 million, according to a statement from the Memphis-based company. Related coverage:
Sylvamo’s strong quarter is in contrast to other Memphis-based companies, particularly FedEx and International Paper, both of which reported lower-than-expected earnings in their most recent quarters.
The Memphis-based company reported lower earnings for its third quarter, as consumers’ buying habits drove a decrease in demand for packaging.
Russian courts can appoint external administrators for companies that cease operations and are at least 25% foreign-owned, if a plan favored by Vladimir Putin is approved.
International Paper reported fourth-quarter earnings of $.78 per share. Wall Street analysts expected $.87 per share.
International Paper Co.’s third-quarter net income was $864 million. Earnings, adjusted for non-recurring gains, were $1.35 per share, falling short of Wall Street expectations of $1.46 per share.
Memphis will soon be home to the corporate headquarters of six of the nation’s biggest companies.
Sylvamo, the spinoff from International Paper, will locate its global headquarters in East Memphis.
A $300,000 grant from International Paper to the Mid-South Food Bank is the first installment in a three-year, $900,000 pledge.
Bad weather and COVID-19 notwithstanding, Memphis-based International Paper outperformed analysts’ expectations in the first quarter of this year. Strong demand for e-commerce has helped boost financial numbers for the producer of industrial packaging.
Executives of the printing paper-making company that is spinning off from International Paper expect to decide by October where to put their global headquarters.
Sylvamo Corporation, a new spin-off of International Paper, is considering where to put its global headquarters that will create 300 jobs paying $179,000 on average in salaries and bonuses, or $217,133 a year including benefits.
Current disease modeling of the U.K. variant, 50% more contagious than the original Wuhan strain of coronavirus, shows Shelby County cases could rise to 300 to 400 a day. This can pose a problem for employers already struggling to fill positions.
Cassandra Bell-Warren credits her mother and grandmother for the self-confidence and curiosity that has helped her experience the world she never saw from her childhood home in South Memphis.
International Paper envisions proposed spinoff printing papers company would remain U.S.-based, but impact of transaction on Memphis headquarters isn’t clear yet.
Memphis-based International Paper said Thursday, Dec. 3, it would spin off its printing papers segment and concentrate on growing corrugated packaging, an essential component of e-commerce.
A Democrat in the White House and divided control of Congress may be good for the city: relaxed trade and immigration policies, more stimulus spending, status quo on taxes.
Industrial packaging sales were the company’s strongest segment, reflecting continued demand for corrugated cardboard for shipping boxes.
Larger employers in Memphis don’t expect to relax work-at-home protocols for office workers until next year, and some experts believe virtual commuting will stick around after COVID-19 is contained.
Some Memphis small businesses are doing well, even growing, during the COVID-19 pandemic: A look at Memphis Boat Center, Hollywood Feed, Phoenix Communications, Kirby Wines & Liquor, Crone Construction.
International Paper is selling a block of shares in Graphic Packaging for the second time this year, as part of continuing effort to generate cash from the 2018 equity investment.
International Paper surprised Wall Street Thursday with results for its first full quarter of navigating the COVID-19 pandemic.
Memphis nonprofit will donate 1,300 summer learning kits for area children.
International Paper reported adjusted earnings of 57 cents a share for the quarter, with strong immediate demand for corrugated packaging and pulp offset by lower demand for printing paper.
International Paper funded the new center.
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