Nip Impressions logo
Mon, Nov 19, 2018 13:16
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
Breaking News: Sources say International Paper shutting down several mill capital projects

International Paper has instructed contractors and suppliers this week to stop work on multiple capital projects at its mills, according to reliable sources.

Projects affected include, but may not be limited to, International Paper facilities in Rome, Georgia; Prattville, Alabama; Pine Hill, Alabama and Selma, Alabama, Paperitalo Publications was told.

After International Paper issued its third quarter results two weeks ago, Mark Wilde of BMO Capital Markets said IP had a "good quarter" with "encouraging" fourth quarter guidance, adding "Near-term business fundamentals are healthy...and IP is generating a lot of cash."

Paperitalo Publications reached out to International Paper's Director of Corporate Communications, Tom Ryan, who said, "This year, as in every other year, we are committed to operating within our budget for capital spending; with such a large global mill system, it is not uncommon to delay certain capital projects."

Update:

Others sources have told us the problem is a project overseas that is experiencing difficulties. Further, some contractors have been told the work in the mills previously mentioned will likely resume after the first of the year.

---

Have breaking news? Contact Steve Roush, Vice President, Publisher and Editor at Paperitalo Publications, at steve.roush@taii.com.

****

Are you struggling to fill Maintenance Technician roles? (9-18-18)


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: