International Paper has announced plans to invest $250 million in its Riverdale mill in Selma. The investment will convert the #16 machine to produce containerboard.
The Selma plan came amid myriad changes announced by the Memphis-based company this weekend.
Georgia IP mills fared much worse as the company announced permanent closure of a containerboard mill in Savannah, a packaging facility in Savannah, a containerboard mill in Riceboro and Riceboro Timber and Lumber — changes that affect some 1,100 workers.
“While difficult, these decisions are essential to positioning International Paper for long-term success, enabling us to focus on the geographies, customers and products where we can create the most value,” said Tom Hamic, executive vice president and president of International Paper’s North America Packaging Solutions business. “Our investment in the Riverdale mill reflects our commitment to delivering high-quality, reliable service while strengthening our advantaged cost position.”
The Riverdale conversion should be complete by late 2026.
IP also said it has reached an agreement to sell its Global Cellulose Fibers business to American Industrial Partners for $1.5billion.
