International Paper to invest $6.4M in equipment to modernize container plant in Indiana

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International Paper to invest $6.4M in equipment to modernize container plant in Indiana

February 13, 2013 - 09:26

SAN FRANCISCO, Feb. 13, 2013 (RISI) -International Paper plans to purchase $6.4 million in new manufacturing equipment toward a modernization and expansion of its Fort Wayne, IN, corrugated container plant, the localJournal Gazettereported.

The Fort Wayne city council approved $6 million in total property tax breaks toward industrial expansion projects. IP's tax break will save it about $362,000 over the 10 years of the abatement.

The Fort Wayne plant employs 104 workers. IP operates six corrugated plants in Indiana.