International Paper Company (NYSE: IP) is an American pulp and paper company, the largest such company in the world. It has approximately 59,500 employees, and it is headquartered in Memphis, Tennessee.
International Paper Company (International Paper), incorporated in 1941, is a global paper and packaging company, with markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. As of December 31, 2010, in the United States, the Company operated 20 pulp, paper and packaging mills, 144 converting and packaging plants, 19 recycling plants and three bag facilities. As of December 31, 2010, production facilities in Europe, Asia, Latin America and South America included eight pulp, paper and packaging mills, 67 converting and packaging plants, and two recycling plants. It distributes printing, packaging, graphic arts, maintenance and industrial products through over 224 distribution branches in the United States and 38 distribution branches located in Canada, Mexico and Asia. As of December 31, 2010, the Company owned or managed approximately 250,000 acres of forestland in Brazil and had, through licenses and forest management agreements, harvesting rights on government-owned forestlands in Russia. The Company operates in five segments: Industrial Packaging, Printing Papers, Consumer Packaging, Distribution and Forest Products. On June 30, 2010, International Paper completed the acquisition of SCA Packaging Asia (SCA). As of December 31, 2010, the SCA packaging business in Asia consisted of 13 corrugated box plants and two specialty packaging facilities, which are in the People’s Republic of China, along with locations in Singapore, Malaysia and Indonesia.
Industrial Packaging
International Paper is the manufacturer of containerboard in the United States. During the year ended December 31, 2010, its production capacity was about 10 million tons. Its products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. During 2010, about 70% of its production is converted domestically into corrugated boxes and other packaging by its 127 the United States container plants. In addition, it recycles approximately one million tons of old corrugated containers (OCC) and mixed and white paper through its 21 recycling plants. In Europe, its operations include one recycled fiber containerboard mill in Morocco and 20 container plants in France, Italy, Spain, and Morocco. In Asia, its operations include 21 container plants in the People’s Republic of China and additional container plants in Indonesia, Malaysia, Singapore, and Thailand. Its container plants are supported by regional design centers, which offer total packaging solutions and supply chain initiatives.
Printing Papers
International Paper is a producer of printing and writing papers. Products in this segment include uncoated and coated papers, market pulp and uncoated bristols. This business produces papers for use in copiers, desktop and laser printers and digital imaging. End use applications include advertising and promotional materials, such as brochures, pamphlets, greeting cards, books, annual reports and direct mail. Uncoated papers also produce a range of grades that are converted by its customers into envelopes, tablets, business forms and file folders. Uncoated papers are sold under private label and international paper brand names, which include Hammermill, Springhill, Williamsburg, Postmark, Accent, Great White, Chamex, Ballet, Rey, Pol and Svetocopy. The mills producing uncoated papers are located in the United States, France, Poland, Russia, and Brazil. The mills have uncoated paper production capacity of approximately 4.9 million tons annually. Brazilian operations function through International Paper do Brasil, Ltda, which owns or manages approximately 250,000 acres of forestlands in Brazil.
Market pulp is used in the manufacture of printing, writing and specialty papers, towel and tissue products and filtration products. Pulp is also converted into products, such as diapers and sanitary napkins. Pulp products include fluff, and southern softwood pulp, as well as southern and birch hardwood paper pulps. These products are produced in the United States, France, Poland, Russia, and Brazil and are sold globally.
Consumer Packaging
International Paper is producer of solid bleached sulfate board with annual the United States production capacity of about 1.7 million tons. Its coated paperboard business produces coated paperboard for a range of packaging and commercial printing end uses. Its Everest, Fortress, and Starcote brands are used in packaging applications for everyday products, such as food, cosmetics, pharmaceuticals, computer software and tobacco products. Its Carolina brand is used in commercial printing end uses, such as greeting cards, paperback book covers, lottery tickets, direct mail and point-of-purchase advertising. It’s the United States capacity is supplemented by about 345,000 tons of capacity at its mills producing coated board in Poland and Russia and by its International Paper & Sun Cartonboard Co., Ltd. joint venture in the People’s Republic of China which has annual capacity of 915,000 tons.
Shorewood Packaging Corporation produces packaging with graphics for a range of markets, including home entertainment, tobacco, cosmetics, general consumer and pharmaceuticals, in 16 facilities globally. Its Foodservice business produces cups, lids, food containers and plates through three domestic plants and five international facilities.
Distribution
xpedx, the Company’s North American merchant distribution business, distributes products and services to a range of customer markets, including commercial printers with printing papers and graphic pre-press, printing presses and post press equipment; building services and away-from-home markets with facility supplies; manufacturers with packaging supplies and equipment; and to a range of customers, it provides distribution capabilities, including warehousing and delivery services. xpedx is a wholesale distribution marketer in these customer and product segments in North America, operating 120 warehouse locations and 128 retail stores in the United States, Mexico and Canada.
Forest Products
During 2010, international Paper sold its land portfolio. It has completed the monetization of its forest land and realty holdings.
IP's acquisition spree continued in 2000, with the company picking up Shorewood Packaging Corporation in March for about $640 million in cash plus assumed debt of $280 million and Champion International Corporation in June for about $5 billion in cash and $2.4 billion in IP stock and the assumption of $2.8 billion in debt. Both acquisitions involved third parties. In the case of Shorewood, that company had been fending off a hostile takeover by Chesapeake Corporation before agreeing to be acquired by IP. The addition of Shorewood greatly expanded IP's position in the high end of the consumer packaging sector, making it a leading provider of high-quality printing and paperboard packaging for home entertainment, cosmetics, health and beauty, pharmaceutical, sporting goods, tobacco, and other consumer products. Champion had agreed to be acquired by UPM-Kymmene Corporation of Finland in February 2000 in a stock-swap deal originally valued at $6.6 billion. UPM's stock had fallen significantly in price, reducing the value of the deal, by April 2000, which is when IP stepped in with its first offer, a combined cash and stock transaction valued at $6.2 billion. UPM responded with an all-cash offer of $70 per share, or $6.8 billion. But in May International Paper emerged the winner of a tense takeover battle with a revised offer of $75 in cash and stock, or $7.4 billion.
Champion was a company with 1999 revenues of $5.27 billion and papermaking capacity of 4.79 million tons a year. It ranked as the second largest producer of magazine paper and the sixth largest maker of office paper in North America. Champion (and Shorewood) had distribution operations that were absorbed by xpedx postmerger. The five million acres of U.S. timberlands controlled by Champion greatly increased IP's land holdings. Champion also had key assets outside the United States. Its Weldwood of Canada Limited subsidiary was a manufacturer of pulp, lumber, plywood, and engineered wood products with operations centered in British Columbia and Alberta. Brazil-based Champion Papel e Celulose Ltda. was one of South America's leading makers of office paper and a major producer of magazine paper with a total of 600,000 tons of annual capacity. IP also gained the significant timber holdings in Canada and Brazil controlled by these two companies, and even more importantly it now had a major presence on three continents: North America, Europe, and South America. International Paper also gained a new headquarters through the Champion deal as the company moved its head offices to the former headquarters of Champion in Stamford, Connecticut, later in 2000.
During 2000 IP also launched a major divestiture program. It was originally aimed at eliminating $3 billion in assets but this figure was increased to $5 billion following the acquisition of Champion. The divestitures were slated to be completed by the end of 2001. The program had a number of goals: cutting down the debt incurred from the string of acquisitions; paring the company's operations to three core areas: paper, packaging, and forest products; and reducing capacity in an attempt to break free of the ups and downs of the paper industry cycle. In November 2000 IP sold its interest in Bush Boake Allen for $640 million. During 2001, IP completed a series of divestitures, selling its petroleum and minerals business, 265,000 acres of forest lands in Washington and 800,000 acres in east Texas, Masonite Corporation, Zanders Feinpapiere, a hydroelectric facility in the state of New York, a water company in Texas, and its flexible packaging business. The company also closed down a number of mills and announced plans to lay off about 3,000 workers in the United States, or about 10 percent of the workforce there. By early 2002 International Paper was still attempting to sell a number of businesses, including Arizona Chemical, its industrial packaging business, its chemical cellulose unit, its decorative products unit, and its oriented strand board facilities.
For 2001 IP reported revenues of $26.36 billion, a decline from the previous year's total of $28.18 billion. Thanks to restructuring and other charges of $1.12 billion and losses on the sales of businesses totaling $629 million, the company posted a net loss of $1.27 billion for the year. Despite this volley of red ink, under the continued leadership of Dillon, International Paper had made great strides in its ambitious restructuring program, and it remained the world's largest forest products company while appearing to have transformed itself into a much nimbler, more competitive, and potentially more profitable giant.
Principal Subsidiaries: Sustainable Forests, LLC; Carter Holt Harvey (New Zealand; 50.4%); International Paper S.A. (France; 99.92%); Weldwood of Canada Limited.
Principal Operating Units: Coated and Supercalendered Papers; Consumer Packaging; Distribution (xpedx); European Papers; Forest Products; Forest Resources; Industrial Papers; Industrial Packaging; Lumber Products; Panels & Engineered Wood Products; Printing & Communications Papers.
Principal Competitors: Georgia-Pacific Corporation; Weyerhaeuser Company; Stora Enso Oyj; MeadWestvaco Corporation; Boise Cascade Corporation; Smurfit-Stone Container Corporation; UPM-Kymmene Corporation; Jefferson Smurfit Corporation; Svenska Cellulosa Aktiebolaget SCA.
OVERALL
Beta: 2.20
Market Cap (Mil.): $13,891.60
Shares Outstanding (Mil.): 437.26
Annual Dividend: 1.05
Yield (%): 3.31
FINANCIALS
IP Industry Sector
P/E (TTM): 12.55 5.82 23.96
EPS (TTM): 343.76 -- --
ROI: 4.79 1.59 17.94
ROE: 16.73 3.07 17.97
Statistics:
Public Company
Incorporated: 1898
Employees: 113,000
Sales: $26.36 billion (2001)
Stock Exchanges: New York Montreal Swiss Amsterdam
Ticker Symbol: IP
NAIC: 113110 Timber Tract Operations; 113210 Forest Nurseries and Gathering of Forest Products; 321113 Sawmills; 321210 Veneer, Plywood, and Engineered Wood Product Manufacturing; 322110 Pulp Mills; 322121 Paper (Except Newsprint) Mills; 322130 Paperboard Mills; 322212 Folding Paperboard Box Manufacturing; 322215 Nonfolding Sanitary Food Container Manufacturing; 322233 Stationery, Tablet, and Related Product Manufacturing; 422110 Printing and Writing Paper Wholesalers; 422130 Industrial and Personal Service Paper Wholesalers
Key Dates:
1898: International Paper Company (IP) is formed from the merger of 17 pulp and paper mills in the northeastern United States.
1928: With IP's power business growing, International Paper & Power Company is formed as a holding company for IP and its power operations.
1935: Passage of the Public Utility Holdings Act makes it illegal for an organization to operate both industrial and power businesses, leading to the divestment of IP's power interests.
1941: A new International Paper Company is incorporated to acquire the assets of International Paper & Power and to signal the new focus on paper.
1981: Canadian International Paper subsidiary is sold to help fund a major plant modernization program in the United States.
1986: Hammermill Paper Company is acquired.
1988: Masonite Corporation is acquired.
1989: IP acquires Aussedat-Rey of France and Germany's Zanders Feinpapiere AG.
1993: North American distribution operations are consolidated as ResourceNet International.
1995: IP gains majority control of New Zealand-based Carter Holt Harvey.
1996: Montvale, New Jersey-based Federal Paper Board Company is acquired for $3.5 billion.
1998: ResourceNet International changes its name to xpedx.
1999: Union Camp Corporation is acquired for $7.9 billion.
2000: IP acquires Shorewood Packaging Corporation for $920 million and Champion International Corporation for $10.2 billion; IP announces plans to divest $5 billion in assets by year-end 2001.
2001: Divestments include Masonite and Zanders Feinpapiere.
Name Age Since Current Position
Faraci, John 61 2003 Chairman of the Board, Chief Executive Officer
Nicholls, Timothy 49 2007 Chief Financial Officer, Senior Vice President
Balboni, John 62 2005 Senior Vice President, Chief Information Officer
Smith, Maura 55 2003 Senior Vice President, General Counsel, Corporate Secretary and Global Government Relations
Karre, Paul 58 2009 Senior Vice President - Human Resources and Communications
Ealy, Carleton 54 2003 Senior Vice President - Corporate Development
Kadien, Thomas 54 2010 Senior Vice President - Consumer Packaging and IP Asia
Pacheco, Maximo 58 2010 Senior Vice President and President, IP Europe, Middle East, Africa and Russia
Roberts, Carol 51 2008 Senior Vice President - Industrial Packaging
Laschinger, Mary 50 2010 Senior Vice President and President - xpedx
Sutton, Mark 49 2010 Senior Vice President - Printing & Communications Papers, Americas
Joseph, Tommy 51 2010 Senior Vice President - Manufacturing, Technology, EHS&S and Global Sourcing
Herrington, Terri 55 2011 Vice President - Finance, Controller
Landau, Glenn 42 2011 Vice President - Investor Relations
Gibara, Samir 71 1999 Independent Director
Walter, William 65 2005 Independent Director
Turner, John 69 2005 Independent Director
Weisser, Alberto 55 2006 Independent Director
Townsend, John 55 2006 Independent Director
Bronczek, David 56 2006 Independent Director
Elsenhans, Lynn 54 2007 Independent Director
Whisler, J. Steven 56 2007 Presiding Independent Director
Mobley, Stacey 65 2008 Independent Director
Dorduncu, Ahmet 58 2011 Independent Director
Address:
400 Atlantic Street
Stamford, Connecticut 06921
U.S.A.
International Paper Company (International Paper), incorporated in 1941, is a global paper and packaging company, with markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. As of December 31, 2010, in the United States, the Company operated 20 pulp, paper and packaging mills, 144 converting and packaging plants, 19 recycling plants and three bag facilities. As of December 31, 2010, production facilities in Europe, Asia, Latin America and South America included eight pulp, paper and packaging mills, 67 converting and packaging plants, and two recycling plants. It distributes printing, packaging, graphic arts, maintenance and industrial products through over 224 distribution branches in the United States and 38 distribution branches located in Canada, Mexico and Asia. As of December 31, 2010, the Company owned or managed approximately 250,000 acres of forestland in Brazil and had, through licenses and forest management agreements, harvesting rights on government-owned forestlands in Russia. The Company operates in five segments: Industrial Packaging, Printing Papers, Consumer Packaging, Distribution and Forest Products. On June 30, 2010, International Paper completed the acquisition of SCA Packaging Asia (SCA). As of December 31, 2010, the SCA packaging business in Asia consisted of 13 corrugated box plants and two specialty packaging facilities, which are in the People’s Republic of China, along with locations in Singapore, Malaysia and Indonesia.
Industrial Packaging
International Paper is the manufacturer of containerboard in the United States. During the year ended December 31, 2010, its production capacity was about 10 million tons. Its products include linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft. During 2010, about 70% of its production is converted domestically into corrugated boxes and other packaging by its 127 the United States container plants. In addition, it recycles approximately one million tons of old corrugated containers (OCC) and mixed and white paper through its 21 recycling plants. In Europe, its operations include one recycled fiber containerboard mill in Morocco and 20 container plants in France, Italy, Spain, and Morocco. In Asia, its operations include 21 container plants in the People’s Republic of China and additional container plants in Indonesia, Malaysia, Singapore, and Thailand. Its container plants are supported by regional design centers, which offer total packaging solutions and supply chain initiatives.
Printing Papers
International Paper is a producer of printing and writing papers. Products in this segment include uncoated and coated papers, market pulp and uncoated bristols. This business produces papers for use in copiers, desktop and laser printers and digital imaging. End use applications include advertising and promotional materials, such as brochures, pamphlets, greeting cards, books, annual reports and direct mail. Uncoated papers also produce a range of grades that are converted by its customers into envelopes, tablets, business forms and file folders. Uncoated papers are sold under private label and international paper brand names, which include Hammermill, Springhill, Williamsburg, Postmark, Accent, Great White, Chamex, Ballet, Rey, Pol and Svetocopy. The mills producing uncoated papers are located in the United States, France, Poland, Russia, and Brazil. The mills have uncoated paper production capacity of approximately 4.9 million tons annually. Brazilian operations function through International Paper do Brasil, Ltda, which owns or manages approximately 250,000 acres of forestlands in Brazil.
Market pulp is used in the manufacture of printing, writing and specialty papers, towel and tissue products and filtration products. Pulp is also converted into products, such as diapers and sanitary napkins. Pulp products include fluff, and southern softwood pulp, as well as southern and birch hardwood paper pulps. These products are produced in the United States, France, Poland, Russia, and Brazil and are sold globally.
Consumer Packaging
International Paper is producer of solid bleached sulfate board with annual the United States production capacity of about 1.7 million tons. Its coated paperboard business produces coated paperboard for a range of packaging and commercial printing end uses. Its Everest, Fortress, and Starcote brands are used in packaging applications for everyday products, such as food, cosmetics, pharmaceuticals, computer software and tobacco products. Its Carolina brand is used in commercial printing end uses, such as greeting cards, paperback book covers, lottery tickets, direct mail and point-of-purchase advertising. It’s the United States capacity is supplemented by about 345,000 tons of capacity at its mills producing coated board in Poland and Russia and by its International Paper & Sun Cartonboard Co., Ltd. joint venture in the People’s Republic of China which has annual capacity of 915,000 tons.
Shorewood Packaging Corporation produces packaging with graphics for a range of markets, including home entertainment, tobacco, cosmetics, general consumer and pharmaceuticals, in 16 facilities globally. Its Foodservice business produces cups, lids, food containers and plates through three domestic plants and five international facilities.
Distribution
xpedx, the Company’s North American merchant distribution business, distributes products and services to a range of customer markets, including commercial printers with printing papers and graphic pre-press, printing presses and post press equipment; building services and away-from-home markets with facility supplies; manufacturers with packaging supplies and equipment; and to a range of customers, it provides distribution capabilities, including warehousing and delivery services. xpedx is a wholesale distribution marketer in these customer and product segments in North America, operating 120 warehouse locations and 128 retail stores in the United States, Mexico and Canada.
Forest Products
During 2010, international Paper sold its land portfolio. It has completed the monetization of its forest land and realty holdings.
IP's acquisition spree continued in 2000, with the company picking up Shorewood Packaging Corporation in March for about $640 million in cash plus assumed debt of $280 million and Champion International Corporation in June for about $5 billion in cash and $2.4 billion in IP stock and the assumption of $2.8 billion in debt. Both acquisitions involved third parties. In the case of Shorewood, that company had been fending off a hostile takeover by Chesapeake Corporation before agreeing to be acquired by IP. The addition of Shorewood greatly expanded IP's position in the high end of the consumer packaging sector, making it a leading provider of high-quality printing and paperboard packaging for home entertainment, cosmetics, health and beauty, pharmaceutical, sporting goods, tobacco, and other consumer products. Champion had agreed to be acquired by UPM-Kymmene Corporation of Finland in February 2000 in a stock-swap deal originally valued at $6.6 billion. UPM's stock had fallen significantly in price, reducing the value of the deal, by April 2000, which is when IP stepped in with its first offer, a combined cash and stock transaction valued at $6.2 billion. UPM responded with an all-cash offer of $70 per share, or $6.8 billion. But in May International Paper emerged the winner of a tense takeover battle with a revised offer of $75 in cash and stock, or $7.4 billion.
Champion was a company with 1999 revenues of $5.27 billion and papermaking capacity of 4.79 million tons a year. It ranked as the second largest producer of magazine paper and the sixth largest maker of office paper in North America. Champion (and Shorewood) had distribution operations that were absorbed by xpedx postmerger. The five million acres of U.S. timberlands controlled by Champion greatly increased IP's land holdings. Champion also had key assets outside the United States. Its Weldwood of Canada Limited subsidiary was a manufacturer of pulp, lumber, plywood, and engineered wood products with operations centered in British Columbia and Alberta. Brazil-based Champion Papel e Celulose Ltda. was one of South America's leading makers of office paper and a major producer of magazine paper with a total of 600,000 tons of annual capacity. IP also gained the significant timber holdings in Canada and Brazil controlled by these two companies, and even more importantly it now had a major presence on three continents: North America, Europe, and South America. International Paper also gained a new headquarters through the Champion deal as the company moved its head offices to the former headquarters of Champion in Stamford, Connecticut, later in 2000.
During 2000 IP also launched a major divestiture program. It was originally aimed at eliminating $3 billion in assets but this figure was increased to $5 billion following the acquisition of Champion. The divestitures were slated to be completed by the end of 2001. The program had a number of goals: cutting down the debt incurred from the string of acquisitions; paring the company's operations to three core areas: paper, packaging, and forest products; and reducing capacity in an attempt to break free of the ups and downs of the paper industry cycle. In November 2000 IP sold its interest in Bush Boake Allen for $640 million. During 2001, IP completed a series of divestitures, selling its petroleum and minerals business, 265,000 acres of forest lands in Washington and 800,000 acres in east Texas, Masonite Corporation, Zanders Feinpapiere, a hydroelectric facility in the state of New York, a water company in Texas, and its flexible packaging business. The company also closed down a number of mills and announced plans to lay off about 3,000 workers in the United States, or about 10 percent of the workforce there. By early 2002 International Paper was still attempting to sell a number of businesses, including Arizona Chemical, its industrial packaging business, its chemical cellulose unit, its decorative products unit, and its oriented strand board facilities.
For 2001 IP reported revenues of $26.36 billion, a decline from the previous year's total of $28.18 billion. Thanks to restructuring and other charges of $1.12 billion and losses on the sales of businesses totaling $629 million, the company posted a net loss of $1.27 billion for the year. Despite this volley of red ink, under the continued leadership of Dillon, International Paper had made great strides in its ambitious restructuring program, and it remained the world's largest forest products company while appearing to have transformed itself into a much nimbler, more competitive, and potentially more profitable giant.
Principal Subsidiaries: Sustainable Forests, LLC; Carter Holt Harvey (New Zealand; 50.4%); International Paper S.A. (France; 99.92%); Weldwood of Canada Limited.
Principal Operating Units: Coated and Supercalendered Papers; Consumer Packaging; Distribution (xpedx); European Papers; Forest Products; Forest Resources; Industrial Papers; Industrial Packaging; Lumber Products; Panels & Engineered Wood Products; Printing & Communications Papers.
Principal Competitors: Georgia-Pacific Corporation; Weyerhaeuser Company; Stora Enso Oyj; MeadWestvaco Corporation; Boise Cascade Corporation; Smurfit-Stone Container Corporation; UPM-Kymmene Corporation; Jefferson Smurfit Corporation; Svenska Cellulosa Aktiebolaget SCA.
OVERALL
Beta: 2.20
Market Cap (Mil.): $13,891.60
Shares Outstanding (Mil.): 437.26
Annual Dividend: 1.05
Yield (%): 3.31
FINANCIALS
IP Industry Sector
P/E (TTM): 12.55 5.82 23.96
EPS (TTM): 343.76 -- --
ROI: 4.79 1.59 17.94
ROE: 16.73 3.07 17.97
Statistics:
Public Company
Incorporated: 1898
Employees: 113,000
Sales: $26.36 billion (2001)
Stock Exchanges: New York Montreal Swiss Amsterdam
Ticker Symbol: IP
NAIC: 113110 Timber Tract Operations; 113210 Forest Nurseries and Gathering of Forest Products; 321113 Sawmills; 321210 Veneer, Plywood, and Engineered Wood Product Manufacturing; 322110 Pulp Mills; 322121 Paper (Except Newsprint) Mills; 322130 Paperboard Mills; 322212 Folding Paperboard Box Manufacturing; 322215 Nonfolding Sanitary Food Container Manufacturing; 322233 Stationery, Tablet, and Related Product Manufacturing; 422110 Printing and Writing Paper Wholesalers; 422130 Industrial and Personal Service Paper Wholesalers
Key Dates:
1898: International Paper Company (IP) is formed from the merger of 17 pulp and paper mills in the northeastern United States.
1928: With IP's power business growing, International Paper & Power Company is formed as a holding company for IP and its power operations.
1935: Passage of the Public Utility Holdings Act makes it illegal for an organization to operate both industrial and power businesses, leading to the divestment of IP's power interests.
1941: A new International Paper Company is incorporated to acquire the assets of International Paper & Power and to signal the new focus on paper.
1981: Canadian International Paper subsidiary is sold to help fund a major plant modernization program in the United States.
1986: Hammermill Paper Company is acquired.
1988: Masonite Corporation is acquired.
1989: IP acquires Aussedat-Rey of France and Germany's Zanders Feinpapiere AG.
1993: North American distribution operations are consolidated as ResourceNet International.
1995: IP gains majority control of New Zealand-based Carter Holt Harvey.
1996: Montvale, New Jersey-based Federal Paper Board Company is acquired for $3.5 billion.
1998: ResourceNet International changes its name to xpedx.
1999: Union Camp Corporation is acquired for $7.9 billion.
2000: IP acquires Shorewood Packaging Corporation for $920 million and Champion International Corporation for $10.2 billion; IP announces plans to divest $5 billion in assets by year-end 2001.
2001: Divestments include Masonite and Zanders Feinpapiere.
Name Age Since Current Position
Faraci, John 61 2003 Chairman of the Board, Chief Executive Officer
Nicholls, Timothy 49 2007 Chief Financial Officer, Senior Vice President
Balboni, John 62 2005 Senior Vice President, Chief Information Officer
Smith, Maura 55 2003 Senior Vice President, General Counsel, Corporate Secretary and Global Government Relations
Karre, Paul 58 2009 Senior Vice President - Human Resources and Communications
Ealy, Carleton 54 2003 Senior Vice President - Corporate Development
Kadien, Thomas 54 2010 Senior Vice President - Consumer Packaging and IP Asia
Pacheco, Maximo 58 2010 Senior Vice President and President, IP Europe, Middle East, Africa and Russia
Roberts, Carol 51 2008 Senior Vice President - Industrial Packaging
Laschinger, Mary 50 2010 Senior Vice President and President - xpedx
Sutton, Mark 49 2010 Senior Vice President - Printing & Communications Papers, Americas
Joseph, Tommy 51 2010 Senior Vice President - Manufacturing, Technology, EHS&S and Global Sourcing
Herrington, Terri 55 2011 Vice President - Finance, Controller
Landau, Glenn 42 2011 Vice President - Investor Relations
Gibara, Samir 71 1999 Independent Director
Walter, William 65 2005 Independent Director
Turner, John 69 2005 Independent Director
Weisser, Alberto 55 2006 Independent Director
Townsend, John 55 2006 Independent Director
Bronczek, David 56 2006 Independent Director
Elsenhans, Lynn 54 2007 Independent Director
Whisler, J. Steven 56 2007 Presiding Independent Director
Mobley, Stacey 65 2008 Independent Director
Dorduncu, Ahmet 58 2011 Independent Director
Address:
400 Atlantic Street
Stamford, Connecticut 06921
U.S.A.