SAN FRANCISCO, Sept. 11, 2014 (RISI) -International Paper (IP) has "moved from a study phase to a more serious evaluation phase" of a master limited partnership (MLP) tax structure for its virgin containerboard mills, CEO John Faraci told a UBS investment conference on Thursday.
"We discussed (the concept) with our board and frankly we were intrigued," he noted.
Faraci said the company is working with advisors to be ready to file for a private letter ruling with the Internal Revenue Service (IRS) if moving assets into an MLP would "create value for shareholders."Read more
SHANGHAI, Aug. 6, 2014 (RISI) -Lee & Man Paper Manufacturing has started up a 400,000 tonne/yr recycled containerboard machine at a mill in Chongqing municipality in China.
Dubbed PM 20, the Valmet unit is 7.25 m wide and has a design speed of 1,100 m/min.
The machine is designed to make testliner grades in the basis weight range of 70-160 g/m². Its output is to be sold on the regional market around Chongqing.
The site also has a 165,000 tonne/yr bamboo pulp line and two recycled containerboard PMs with a combined capacity of 700,000 tonnes/yr.Read more
RockTenn (RKT) today announced that its Board of Directors has authorized a two-for-one stock split of its Class A common stock, par value $0.01 per share ("Common Stock"), to be effected through a 100% stock dividend.
"We had an outstanding quarter driven by strong corrugated products volume, higher prices, and lower costs," said CEO Mark Kowlzan. "We also successfully completed annual maintenance outages at three of our mills.Read more