International Paper Shutting Down Three Mills

MEMPHIS, TN—International Paper plans to permanently close three facilities and a paper machine, resulting in the loss of about 1,600 employees. The impacted plants are a paper mill and associated operations in Franklin, VA, as well as containerboard facilities in Pineville, LA, and Albany, OR. A previously idled No. 3 machine at the Valliant, OK, containerboard mill will also be shut down permanently. The shutdowns will reduce the company's North American paper and board capacity by 2.1 million tons.