Ricky Salter, 58, a maintenance worker at the International Paper plant in Savannah, GA, was killed Sunday afternoon in an industrial accident, reported WJCL. International Paper said that Salter died in the plant's paper roll handling area.
International Paper is implementing a buyback of up to $1.5 billion in additional shares of the company’s common stock. The latest buyback follows another $1.5 billion repurchase that was authorized in Sept. 2013.
International Paper will repurchase the shares in open market transactions. In addition to the stock announcement, the company declared a quarterly dividend of 35 cents per share from July 1 through Sept. 30, 2014 on common stock par value $1.
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.
Mark Sutton has been promoted to president and COO at International Paper, and elected a member of the company's board of directors effective immediately. He most recently served as the company's senior vice president, industrial packaging.
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.
Officials gathered Wednesday at International Paper’s Ticonderoga, NY, mill to announce that energy supplied to the mill through the ReCharge NY program will allow the mill to make new investments and retain workers.
Gil Quiniones, president and CEO of the New York State Power Authority, said the program supplies low-cost power sourced from renewable sources, much of which is hydroelectricity. Quiniones said the savings on energy will help International Paper strengthen its operations in Ticonderoga.
“In return they’ve committed to retain 650 jobs and to invest and expand these operations by another $100 million so
International Paper has reported a first quarter 2014 net loss attributable to common shareholders of $95 million ($0.21 per share), including a pre-tax charge of $495 million associated with the Courtland mill shutdown, compared with net earnings of $436 million ($0.98 per share) in the fourth quarter of 2013 and $318 million ($0.71 per share) in the first quarter of 2013.
Held at the Ponte Vedra Inn & Club in Florida, the Inkjet Summit is an invitation-only, hosted event designed for senior managers and business executives from print providers and corporate enterprises that are looking to develop strategies, understand their options and make major investment decisions around inkjet printing technology.
