EAST MILLINOCKET, Maine— Three Maine-based creditors want to move the Great Northern Paper Co. bankruptcy case from Delaware to Maine. The creditors contend Maine's attorney general, the towns of East Millinocket and Millinocket and the employees' unions all support moving the federal bankruptcy proceedings to Maine.» Read More
NEW YORK, May 6- International Paper Co Chief Executive John Faraci will not attend the annual St. Petersburg International Economic Forum later this month in Russia and will send deputies instead, according to a source close to the company. The White House has encouraged U.S. business leaders not to attend, citing Russia's involvement in Ukraine.
April 30- International Paper Co posted a higher-than-expected quarterly profit on Wednesday due to rising North American demand for its corrugated shipping boxes. IP, which has a large joint venture in Siberia, is closely monitoring the tension between Russia and the Ukraine, but so far has taken no action.
April 30- International Paper Co, the largest North American producer of corrugated shipping boxes, posted a quarterly loss on Wednesday due to charges to close an Alabama paper mill. The company had a first-quarter net loss of $95 million, or 21 cents per share, compared with net income of $318 million, or 71 cents per share, in the year-ago period.
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John Faraci, Chairman & CEO of International Paper, breaks down the paper company's better-than-expected fourth quarter numbers and discusses where he see growth opportunites.
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