secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL PAPER CO /NEW/ (IP)
CIK:        0000051434
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0001193125-23-258136
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.05, 2.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/0001193125-23-258136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51434/000119312523258136/d489478d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-258136

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