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.
