IP Looks to Three-Pronged Solution

STAMFORD, CT—In an effort to turn around its lackluster performance, International Paper (IP) revealed a transformation plan that is designed to improve returns, strengthen the balance sheet and return cash to shareholders.

The plan includes narrowing the company's portfolio to two key platform businesses—uncoated papers and industrial/consumer packaging—improving shareholder value via mill realignments in those businesses, and exploring strategic options that could entail selling or spinning off other businesses. Uncoated paper and packaging accounts for more than 70 percent of IP's sales.