Gypsum industry news
US: Guillermo Gutierrez has been appointed the Vice President of Investor Relations at International Paper with effect from 1 July 2017. He will report to Glenn Landau, the senior vice president and chief financial officer. He succeeds Jay Royalty, who has been named vice president and general manager, Foodservice.
Gutierrez, aged 45 years, joined International Paper in 1994 and has held roles of increasing responsibility in finance, sales, marketing, supply chain and general management. He currently serves as Regional Managing Director, EMEA Packaging. Gutierrez earned a Bachelors degree in finance from Tulane University in 1994 and an MBA from the University of Miami in 2001. Guillermo and his family will relocate from Madrid, Spain to Memphis, US.
Thomas J Plath appointed Senior Vice President, Human Resources and Global Citizenship at International Paper27 February 2017
US: Thomas J Plath has been elected by the board of directors of International Paper to become Senior Vice President, Human Resources and Global Citizenship, from effect from 1 March 2017. Plath joined International Paper in 1991, serving most recently as Vice President, Human Resources, Global Businesses.
The company also announced the retirement of Thomas G Kadien, Senior Vice President, Human Resources, Government Relations and Global Citizenship. Kadien joined the company in 1978 and will retire effective 30 June 2017.
US: The Industrial Packaging division of International Paper has seen its sales fall by 2% year-on-year to US$14.2bn from US$14.5bn in the same period in 2015. Its operating profit fell by 11% to US$1.65bn from US$1.85bn. Overall sales volumes rose slightly to 9.4Mt from 9.3Mt. Paper used for gypsum production rose by 17% to 181,000t from 155,000t. In North America the company blamed the falling profits on fewer shipping days, higher input costs and higher operating costs.
US: International Paper has finalised the sale of its Temple-Inland Building Products division to Georgia-Pacific Building Products for US$710m in cash, subject to a customary closing adjustment. The division's assets comprise 15 manufacturing facilities including four gypsum wallboard plants. The facilities are located across eight states, primarily in the south-eastern and eastern portions of the US. The deal was originally announced in late 2012.
US: International Paper Company (IP) has announced that it has completed its acquisition of Temple-Inland Inc. through the merger of its wholly-owned subsidiary Metal Acquisition Inc with Temple-Inland. Temple-Inland, which has four US wallboard plants, is now a wholly-owned subsidiary of International Paper.
Under the terms of the transaction, each issued and outstanding share of Temple-Inland common stock has been converted into the right to receive US$32 in cash without interest thereon, less any applicable withholding taxes. Including the assumption of approximately US$700m in Temple-Inland net debt, the total transaction value is approximately US$4.5bn. As a result of the acquisition, Temple-Inland's common stock ceased trading on the New York Stock Exchange on 13 February 2012.
International Paper Chairman and CEO John Faraci said, "We are very pleased to have completed this compelling transaction. The combination of International Paper and Temple-Inland strengthens our North American packaging business and enhances our ability to generate cash flow while maintaining our strong balance sheet. We look forward to working with the employees of Temple-Inland as we successfully integrate our businesses and create an even stronger company with substantial benefits for our customers, employees and shareholders."
US: Temple Inland, soon to be owned by International Paper, has released fiscal results for the third quarter of 2011. These show that gypsum wallboard volumes and revenues were down compared to the second quarter of 2011. Revenues were down from USD37m in the second quarter to USD34m and output volumes declined from 299MMSF to 270MMSF. Gross pricing increased by approximately USD2/MMSF between the two quarters.
US: International Paper Co. (IP), the world's largest pulp and paper maker, has agreed to acquire Temple-Inland Inc for USD3.7bn. Temple-Inland, which is based in Austin, Texas and has four US wallboard plants, previously rejected a bid made by IP on 6 June 2011 because it was too low.
"The strategic benefits of this combination are clear and we are pleased to be able to move forward on terms that are financially attractive for both sets of shareholders," said International Paper Chief Executive Officer John Faraci in a statement.