Third quarter 2014 net earnings have been released by International Paper. Operating Earnings were $409 million ($0.95 per share) in the third quarter of 2014, compared with $400 million ($0.93 per share) in the second quarter of 2014 and $455 million ($1.01 per share) in the third quarter of 2013.
International Paper has completed the previously announced spinoff of its distribution solutions business, xpedx, and xpedx's merger with Unisource, with the combined companies now operating as Veritiv Corp.
Formed by the combination of xpedx and Unisource Worldwide, Veritiv announced it will begin trading on the New York Stock Exchange (NYSE) under the symbol VRTV. Veritiv is a distribution solutions company, providing end-to-end print, packaging, facility and logistics solutions.
Commercial printing industry supplier company and personnel news from Printing Impressions’ July 2014 edition, featuring xpedx and Unisource Worldwide, EFI, eLynxx Solutions, AmeriLam Supply Group, Saint Clair Systems, Norcross Corp.
Commercial printing industry supplier company and personnel news from Printing Impressions’ June 2014 edition, featuring Hohner Maschinenbau GmbH and Ernst Nagel GmbH Stuttgart, HS Boyd Co., GammTech Corp., Domtar Corp., Mac Papers, GPA
MEMPHIS, TN and NORCROSS, GA—xpedx, a business of International Paper, and Unisource Worldwide, announced that they have chosen the name Veritiv for the distribution solutions company that will be created upon completion of their merger. The name Veritiv comes from the roots of three words: “verity,” meaning true; “active” and “connective.” Common stock of the new company is expected to trade on the New York Stock Exchange under the symbol VRTV.
xpedx and Unisource Worldwide have chosen the name Veritiv for the leading distribution solutions company that will be created upon completion of their merger. The company will begin operating under the name Veritiv and will introduce its new brand/logo immediately after the closing of the transaction, which is expected to occur early in the third quarter of 2014, upon satisfaction of the remaining closing conditions.
xpedx has earned the Energy Star designation at its locations in Lakeland, FL, and Knoxville, TN. These facilities meet strict energy performance standards, use less energy, are less expensive to operate and cause fewer greenhouse gas emissions than peer facilities.
The demand for digital synthetic paper is increasing rapidly because of its performance, durability and versatility. PoliPrint and YUPOBlue synthetic papers from xpedx compliment an extensive national offering.
International Paper (IP) announced that distribution solutions businesses xpedx and Unisource Worldwide will merge under the terms of a definitive agreement that will result in the creation of a new publicly traded company.Upon the expected completion of the merger in mid-2014, the new company will have projected annual revenues in the $9 billion to $10 billion range, and will have about 9,500 employees across more than 170 distribution centers in North America.