"Reflecting on my first year, I am proud of the International Paper team for embracing transformational change and achieving tremendous progress together," said Andy Silvernail, Chief Executive Officer. "We deployed 80/20, focusing on our most valuable customers and aligning our resources accordingly. We launched key initiatives to drive step-change improvement in our performance, and invested to grow in the most attractive markets. Most recently, we welcomed our DS Smith colleagues and outlined our strategic direction at our Investor Day." "This year's first quarter results reflect higher sales and earnings, primarily driven by the DS Smith acquisition, sales price increases, and cost out," Silvernail added. "We also made good progress on growing our market position in our North American packaging business. Overall market demand, however, was softer than anticipated in both of our regions. As expected, our free cash flow was temporarily impacted by transformation costs and incentive compensation payout. In this uncertain macroeconomic environment, we are focusing on actions within our control as we accelerate our 80/20 execution to drive commercial excellence and cost out across the company."

Klabin, the largest producer and exporter of paper for packaging and sustainable solutions in paper packaging in Brazil, made official, this Wednesday (22), the start of operations at the Klabin Port Terminal (PAR-01), located on the wharf commercial center at the Port of Paranaguá, in Paraná. With the capacity to receive one million tons of pulp and paper per year, the Terminal is part of the investment package in logistics made by the Company in the State in recent years. With the operation, the unloading of short and long fiber pulp, fluff pulp and paper, from the Puma Units, located in Ortigueira (PR), and from the Monte Alegre Unit, in Telêmaco Borba (PR), can be carried out within the Port of Paranaguá. With a structure that covers an area of ​​27,530 m², leased by Klabin for 25 years, in an auction held in August 2019, the new operation also brings productivity and competitiveness to Klabin in Break Bulk, a mode of maritime cargo transport without the use of of containers, which ships large volumes directly inside the ships, allowing customers to be served on a large scale and with operational excellence.

ProAmpac, a global leader in flexible packaging and material science, has acquired the bag converting operations of International Paper (“IP”), a global leader in sustainable packaging. The acquisition expands ProAmpac’s converting capabilities, further advancing the company’s Fiberization of Packaging® strategy and enhancing its ability to deliver customized bag solutions for the grocery, convenience store, and quick-service restaurant markets. “Global demand for reliable, recyclable paper packaging continues to grow rapidly amid evolving consumer expectations and market trends redefining recyclability,” stated Greg Tucker, ProAmpac founder, vice chairman, and chief executive officer. “ProAmpac’s acquisition of IP’s bag operation supports our Fiberization of Packaging initiatives, helping us better serve customers by extending our expertise in material science to the US west coast with additional capabilities and redundancies,” continued Tucker.