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International Paper 1st-Quarter Net Up 69% on Industrial-Packaging Sales

International Paper Co.'s (IP) first-quarter profit rose 69% as the company's industrial-packaging sales posted a double-digit increase.The paper and pulp company last year completed its $3.48 billion acquisition of rival Temple-Inland Inc. after months of resistance from the maker of corrugated packaging and building products. International Paper has since divested some assets, including the sale of three U.S. container-board mills, to meet regulator requirements. In December, it agreed to sell Temple-Inland's building-products division to Koch Industries Inc. for $750 million.International Paper reported a profit of $318 million, or 71 cents a share, versus $188 million, or 43 cents a share, a year earlier. Excluding restructuring expenses and other items, operating earnings were 65 cents, up from 63 cents a year ago.Net sales grew 6.5% to $7.09 billion.Analysts polled by Thomson Reuters forecast operating earnings of 74 cents a share and $7.05 billion in revenue.Sales at Internation...

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  1. International Paper in Talks to Merge Distribution Business With Unisource

    International Paper Co. (IP) said it is in talks with Unisource about a proposed merger of its distribution business as the company continues its recent push to dive...

  2. International Paper 4th-Quarter Net Down 16% on Higher Expenses

    International Paper Co.'s (IP) fourth-quarter profit fell 16% as the company's restructuring expenses and higher costs offset strong revenue gains.The paper-and-pulp...

  3. IP to Sell Temple-Inland Building Products Division for $750 Million

    International Paper Co. (IP) agreed to sell its Temple-Inland Building Products division to building and paper products maker Georgia-Pacific LLC for $750 million in...

  4. International Paper 3rd-Quarter Profit Down 49% on Charges

    International Paper Co.'s (IP) third-quarter profit fell 49%, as the paper-and-packaging company's income was weighed down by costs from its acquisition of rival Tem...

  5. International Paper to Form Joint Venture in Brazil

    International Paper Co. (IP) has agreed to form a joint venture with Grupo Orsa in Brazil, as the paper-and-pulp company continues to expand its global footprint.Und...

  6. International Paper Second Quarter Profit Down 39%

    International Paper Co.'s (IP) second-quarter profit fell 39%, but the company predicted maintenance expenses and currency head winds that dragged earnings lower wil...

  7. International Paper 2nd-Quarter Profit Down 39% on Maintenance Expenses

    International Paper Co.'s (IP) second-quarter profit fell 39% as maintenance-outage expenses and currency headwinds at a joint venture in Russia weighed on the botto...

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