IP plans to close sites in the UK
News General news
International Paper (IP) is planning to close five of its packaging sites in the UK by the end of 2025. This is part of a wider rationalization strategy. In total, around 300 jobs could be affected.
The proposed measures include the relocation of a further site. These proposals are currently being discussed with employees and trade unions.
The announcement follows the completion of IP's US$7.2 billion takeover of UK packaging manufacturer DS Smith earlier this year.
“Given the challenging trading conditions for the industry, our aim is to optimize our resources so that we can better serve our customers and ultimately grow our business,” said Paul Clarke, managing director of DS Smith's packaging division for the UK and Ireland.
IP said the review was part of its transformation process to become a more resilient and sustainable packaging company.
