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International Paper has announced a sweeping restructuring that will reshape its portfolio and workforce. The company will sell its Global Cellulose Fibers business to private equity firm American Industrial Partners for $1.5 billion, exiting a segment that generated nearly $2.8 billion in 2024 revenue. The move reflects International Paper’s strategy to sharpen its focus on sustainable packaging solutions. As part of the restructuring, International Paper will permanently close its containerboard mills and packaging operations in Savannah and Riceboro, Georgia, resulting in the loss of approximately 1,100 jobs. About 800 employees in Savannah and 300 in Riceboro will be affected. The closures will also reduce containerboard production capacity by 1.43 million tons.
To offset these reductions, the company will invest $250 million in its Riverdale mill in Selma, Alabama, converting one of its paper machines to produce containerboard. While the sale and closures are expected to strengthen International Paper’s financial position, they highlight the company’s continued shift away from printing and writing paper. Though not directly tied to copy paper production, the realignment underscores the broader trend of major paper companies exiting traditional printing segments in favor of packaging.
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