International Paper (IP) announced the consolidation of its operations in the Rio Grande Valley to better serve customers. As part of its strategic growth initiative, and commitment to the Rio Grande Valley, the company will make strategic investments to convert the current Edinburg, Tex. sheet plant into a warehouse, invest in its current facility in McAllen, Tex. to increase capabilities and shift its current Reynosa, Mexico operations to a new, more modern and capable facility that is currently under construction in Reynosa. The company will close its box plant and sheet plant in Edinburg, Tex. The company’s goal is to minimize the impact to affected employees through natural attrition, retirements and open positions at other IP facilities, including open positions at our McAllen, Tex. facility. The company will assist employees and customers through this transition.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IP:
- International Paper downgraded to Underweight from Equal Weight at Wells Fargo
- International Paper Files Q1 2025 Financial Report
- International Paper price target lowered to $60 from $63 at Seaport Research
- International Paper Co.: Strategic Positioning and Cost Management Drive Buy Rating
- Cautious Outlook on International Paper Co. Amid Transformation and Macroeconomic Challenges