International Paper closes its Courtland Alabama Paper Mill

Bad news for paper:

Permanent Closure to Reduce IP's North American Uncoated Freesheet Production Capacity

MEMPHIS, Tenn., Sept. 11, 2013 /PRNewswire/ -- International Paper (NYSE: IP) today announced plans to permanently close its Courtland, Ala. Mill, a facility that is part of the company's Printing and Communications Papers Business. The mill will shut down in stages with a full closure expected to be complete by the end of the first quarter of 2014. This mill closure will reduce IP's North American uncoated and coated freesheet paper production capacity by 950,000 tons, of which 765,000 is uncoated freesheet.

http://phx.corporate-ir.net/phoenix.zhtml?c=73062&p=irol-newsArticle_Print&ID=1853846&highlight=

 

Yeah, I am sure that somewhere in Malaysia or China or elsewhere outside of USA lots of people are happy about it and looking forward to have more work for them...

 

Yeah, they must be really sad...