AI English summary of an SEC filing — figures as filed
International Paper IPInternational Paper said it decided on February 11, 2025 to permanently close its containerboard mill in Campti, Louisiana, as part of actions affecting its North American Packaging Solutions business, and expects all manufacturing operations to cease by March 31, 2025.
Key points
AI summaryInternational Paper said it decided on February 11, 2025 to permanently close its containerboard mill in Campti, Louisiana, as part of actions affecting its North American Packaging Solutions business, and expects all manufacturing operations to cease by March 31, 2025.
The company estimated total pre-tax charges from the closure at about $357 million, consisting of about $311 million in noncash asset write-offs (including $276 million in accelerated depreciation) and about $46 million in cash severance and other shutdown charges, it said.
The company said it expects the closure to reduce containerboard capacity by about 814,000 tons annualized and its workforce by about 481 employees. It also said it expects the above charges to be recorded over the 3 months ending March 31, 2025.
In a press release dated February 13, 2025, the company said it will also close its recycling plant in Phoenix, its box plant in Hazleton and its sheet feeder facility in St. Louis, in addition to the Red River containerboard mill, and that all facilities will cease operations by the end of April 2025. It said 495 hourly employees and 179 salaried employees will be affected.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
International Paper to Permanently Close Campti Containerboard Mill
International Paper said it decided on February 11, 2025 to permanently close its containerboard mill in Campti, Louisiana, as part of actions affecting its North American Packaging Solutions business, and expects all manufacturing operations to cease by March 31, 2025.
Source · Based on the filing body and exhibits
Estimates Pre-Tax Charges of About $357 million
The company estimated total pre-tax charges from the closure at about $357 million, consisting of about $311 million in noncash asset write-offs (including $276 million in accelerated depreciation) and about $46 million in cash severance and other shutdown charges, it said.
Source · Based on the filing body and exhibits
Containerboard Capacity and Workforce Impact
The company said it expects the closure to reduce containerboard capacity by about 814,000 tons annualized and its workforce by about 481 employees. It also said it expects the above charges to be recorded over the 3 months ending March 31, 2025.
Source · Based on the filing body and exhibits
Press Release Announces Closure of 4 Facilities
In a press release dated February 13, 2025, the company said it will also close its recycling plant in Phoenix, its box plant in Hazleton and its sheet feeder facility in St. Louis, in addition to the Red River containerboard mill, and that all facilities will cease operations by the end of April 2025. It said 495 hourly employees and 179 salaried employees will be affected.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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