---
schema_version: "secwatch.filing_event.v1"
accession: "0000051434-25-000060"
form_type: "8-K"
ticker: "IP"
cik: "0000051434"
company_name: "INTERNATIONAL PAPER CO /NEW/"
filed_at: "2025-08-21T23:59:59+00:00"
generated_at: "2026-05-17T10:58:49.695311+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# IP to sell Global Cellulose Fibers to AIP for $1.5B; announces mill closures and $250M investment

## Summary
- Definitive agreement to sell GCF business to American Industrial Partners for $1.5B (incl. $190M preferred stock); close by end of 2025.
- GCF had $2.8B revenue in 2024 and 3,300 employees; company focuses on sustainable packaging.
- Permanent closure of Riceboro and Savannah mills; ~1,100 jobs impacted; Q3 2025 costs of $158M cash and $570M non-cash.
- $250M investment to convert Riverdale mill machine to containerboard; net capacity reduction of ~1M tons.
- Closures and investment part of 80/20 strategy to improve cost position and customer experience.

## SEC filing metadata
- accession: 0000051434-25-000060
- form_type: 8-K
- ticker: IP
- cik: 0000051434
- company_name: INTERNATIONAL PAPER CO /NEW/
- filed_at: 2025-08-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 2.06, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51434/000005143425000060/0000051434-25-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51434/000005143425000060/ip-20250820.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000051434-25-000060
- JSON: https://secwatch.observer/filing/0000051434-25-000060.json
- Plain text: https://secwatch.observer/filing/0000051434-25-000060.txt

## Key facts
- Restructurings & Charges
  INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $400 million and aggregate pre-tax cash severance and other shut affecting Containerboard business (approximately 680 employees).
  - Type: restructuring
  - Charge: aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $400 million and aggregate pre-tax cash severance and other shut
  - Affected area: Containerboard business
  - Headcount: approximately 680 employees
  source text: The Company plans to permanently close its containerboard mill and packaging facility in Savannah, Georgia. The containerboard mill will shut down in stages with all operations expected to cease by September 30, 2025. The closure is expected to reduce the Company’s containerboard capacity by approximately 1,000,000 tons. The Company estimates that the closure will result in aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $400 million and aggregate pre-tax cash severance and other shutdown charges of approximately $81 million, and anticipates that these charges will be recorded during the three months ending September 30, 2025. The Company expects closure of the containerboard mill to reduce its workforce by approximately 680 employees.
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000005143425000060/0000051434-25-000060-index.htm
- Restructurings & Charges
  INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $170 million and aggregate pre-tax cash severance and other shut affecting Containerboard business (approximately 300 employees).
  - Type: restructuring
  - Charge: aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $170 million and aggregate pre-tax cash severance and other shut
  - Affected area: Containerboard business
  - Headcount: approximately 300 employees
  source text: The Company plans to permanently close its containerboard, timber and lumber mills in Riceboro, Georgia. The containerboard mill will shut down in stages with all operations expected to cease by September 12, 2025. The closure is expected to reduce the Company’s containerboard capacity by approximately 430,000 tons. The Company estimates that the closure will result in aggregate pre-tax noncash asset write-off and accelerated depreciation charges of approximately $170 million and aggregate pre-tax cash severance and other shutdown charges of approximately $77 million, and anticipates that these charges will be recorded during the three months ending September 30, 2025. The Company expects closure of the containerboard mill to reduce its workforce by approximately 300 employees.
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000005143425000060/0000051434-25-000060-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.