IP to sell multiple units

19 July 2005 – Stamford (CT): International Paper (IP) is to sell off multiple business units as part of a restructuring programme to focus on uncoated papers and industrial and consumer packaging divisions.

The reorganisation is expected to make savings of $400 million over several years.

Units to be sold off include Kraft Papers and Arizona Chemical businesses.

The company is also believed to be considering a move from its Stamford headquarters to Tennessee.