MEMPHIS, TN — International Paper, a global paper and packaging company, on Nov. 21 announced the indefinite closure of its Louisiana Mill in Bastrop, LA. The decision to idle the 100% pulp mill operation is because of the continuing decline in pulp demand from the company’s customers worldwide, coupled with a weak economy across the globe. The closure will result in curtailment of the company’s annual pulp production capacity by approximately 450,000 tons. The shutdown process will begin immediately.
The indefinite closure will affect approximately 550 employees at the Louisiana mill. Salaried and non-exempt employees will be offered severance packages and outplacement assistance. The company is committed to working closely with union officials to determine benefits. Negotiations concerning the effects of the closure with the union will begin as soon as possible. Employee assistance providers will be available to support employee and family needs.
Have something to say? Share your thoughts with us in the comments below.