INTERNATIONAL PAPER CO /NEW/ (IP)

International Paper Company is a global producer of sustainable, renewable fiber-based packaging products. It is a New York corporation, incorporated in 1941 as the successor to a company of the same name organized in 1898. In recent years it has simplified its operations and refocused on packaging, using what it calls the IP 80/20 performance system, a data-driven operating model built around simplification, segmentation, resourcing and growth. Net sales in 2025 were $23.63 billion.

The company reports two segments, Packaging Solutions North America and Packaging Solutions EMEA, which correspond to its two operating divisions. Its strategy centers on sustainable packaging solutions, and it has exited non-core businesses. It completed the acquisition of DS Smith Ltd. and, in January 2026, sold its Global Cellulose Fibers business to American Industrial Partners for $1.5 billion. It also announced plans for two new greenfield packaging plants in 2025.

Manufacturing operations are in North America, Latin America, Europe and North Africa. In the United States, the company operates 15 packaging mills, 159 converting and packaging plants and 15 recycling plants. Production facilities in Europe, North Africa and Latin America include 14 containerboard mills, 159 converting and packaging plants and 20 recycling plants. Management describes its priorities as an advantaged cost position, a superior customer experience, and a high relative supply position in the right geographies, with the right customers and product offerings. Substantially all of its businesses are subject to cycles tied to industry capacity and general economic conditions.

In January 2026 the company announced plans to separate into two independent, publicly traded companies, one in North America and one in EMEA, targeted for completion near the end of 2026 or early 2027. Capital expenditures totaled about $5.4 billion from 2021 through 2025, excluding acquisitions, including about $1.9 billion in 2025, and are expected to be $2.0 billion to $2.1 billion in 2026. The company returned $977 million to shareholders in dividends in 2025.