INTERNATIONAL PAPER TO CLOSE 2 GEORGIA MILLS, CUT 1,100 JOBS
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✍️ International Paper Co. announced it will close two Georgia paper mills, including a 90-year-old mill in Savannah, affecting 1,100 employees.
👉 International Paper Co. will close two paper mills in Georgia 👉 One mill in Savannah has been in operation for 90 years 👉 Approximately 1,100 employees will be laid off 👉 Company will take a $700 to $900 million accounting charge 👉 Decision is part of effort to simplify operations and focus on packaging business 👉 Company will sell pulp division to private equity firm American Industrial Partners for $1.5 billion
-- #TomHamic #VanJohnson #TripTollison #JonBurns #Savannah #Riceboro #Memphis #Selma #Campti #Georgetown #business
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