International Paper closing Pineville mill, others
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International Paper Co. is closing its plant in Pineville and others as the world’s largest maker of cardboard box materials trims 1,600 positions — nearly 3 percent of the current payroll.
According to the Associated Press, closure of the Pineville facility will put 230 people out of work.
Gov. Bobby Jindal sent out an announcement that he will hold a news conference at 3 p.m. at Pineville City Hall, regarding the plant closure in central Louisiana.
IP said it is bringing its capacity into line with sharply diminished demand.
The company, which employs about 57,000 people, is also closing plants in Albany, Ore., and Franklin, Va., as well as permanently shutting down a currently idled Valliant, Okla., mill.
The global recession has slashed demand for paper and paperboard products and IP, which has been cutting capacity since 2008, said a recovery is not in sight.
“The company’s demand is not expected to return to 2008 levels in the near future,” IP said in a statement. “Therefore, permanent IP capacity closures are necessary.”
The moves, to be implemented from mid-December through spring 2010, will cut IP’s capacity, which has been about 16 million tons, by about 2.1 million tons or 13 percent.
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