---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-258136"
form_type: "8-K"
ticker: "IP"
cik: "0000051434"
company_name: "INTERNATIONAL PAPER CO /NEW/"
filed_at: "2023-10-18T23:59:59+00:00"
generated_at: "2026-06-09T22:09:06.953945+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# IP to close Orange mill, cease pulp production; expects ~$664M pre-tax charges

## Summary
- Permanent closure of Orange, TX containerboard mill (800K tons capacity); all operations expected to cease by year-end.
- Cease production on #4 fluff pulp machine in Pensacola (idled) and #20 machine in Riegelwood; reducing pulp capacity ~500K tons.
- Estimated total pre-tax charges of ~$664M: ~$595M noncash asset write-offs/depreciation, ~$69M cash severance/other.
- Approximately 900 positions impacted across the three sites; severance and outplacement assistance offered.
- After closures, IP will have 17 containerboard mills (13MM tons capacity) and 8 pulp mills (2.7MM tons capacity).

## SEC filing metadata
- accession: 0001193125-23-258136
- form_type: 8-K
- ticker: IP
- cik: 0000051434
- company_name: INTERNATIONAL PAPER CO /NEW/
- filed_at: 2023-10-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 2.06, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/0001193125-23-258136-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/d489478d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-258136
- JSON: https://secwatch.observer/filing/0001193125-23-258136.json
- Plain text: https://secwatch.observer/filing/0001193125-23-258136.txt

## Key facts
- Restructurings & Charges
  INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of approximately $395 million affecting Containerboard mill in Orange, Texas (approximately 565 employees).
  - Type: restructuring
  - Charge: approximately $395 million
  - Affected area: Containerboard mill in Orange, Texas
  - Headcount: approximately 565 employees
  source text: The Company plans to permanently close its containerboard mill in Orange, Texas. The containerboard mill will shut down in stages with all operations expected to cease by year end. The closure is expected to reduce the Company’s containerboard capacity by approximately 800,000 tons. The Company estimates that the closure will result in pre-tax noncash asset write-off and accelerated depreciation charges of approximately $395 million and pre-tax cash severance and other shutdown charges of approximately $55 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/0001193125-23-258136-index.htm
- Restructurings & Charges
  INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of approximately $100 million affecting Global Cellulose Fibers – #4 Fluff Pulp Machine at Pensacola, Florida mill (approximately 100 employees).
  - Type: restructuring
  - Charge: approximately $100 million
  - Affected area: Global Cellulose Fibers – #4 Fluff Pulp Machine at Pensacola, Florida mill
  - Headcount: approximately 100 employees
  source text: The Company plans to permanently cease production on its #4 Fluff Pulp Machine at its Pensacola, Florida mill. The machine had been idle since August 2023 and will not resume production. The Company estimates that the machine shutdown will result in pre-tax noncash asset write-off and accelerated depreciation charges of approximately $100 million and pre-tax cash severance and other shutdown charges of approximately $4 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/0001193125-23-258136-index.htm
- Restructurings & Charges
  INTERNATIONAL PAPER CO /NEW/ announced a restructuring with charges of approximately $100 million affecting Global Cellulose Fibers – #20 Fluff Pulp Machine at Riegelwood, North Carolina mill (approximately 200 employees).
  - Type: restructuring
  - Charge: approximately $100 million
  - Affected area: Global Cellulose Fibers – #20 Fluff Pulp Machine at Riegelwood, North Carolina mill
  - Headcount: approximately 200 employees
  source text: Additionally, the Company plans to permanently cease production on its #20 Fluff Pulp Machine at its Riegelwood, North Carolina mill by year end. The Company estimates that the machine shutdown will result in pre-tax noncash asset write-off and accelerated depreciation charges of approximately $100 million and pre-tax cash severance and other shutdown charges of approximately $10 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/0001193125-23-258136-index.htm

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