International Paper to Shutdown Machine

International Paper announced that it is permanently shutting down its No. 3 uncoated freesheet paper machine at its Franklin mill in Virginia. The closure, scheduled for November 23, will affect about 50 workers and will remove approximately 150,000 tons of uncoated freesheet paper from the market. Furthermore, the company is planning to take approximately 60,000 tons of lack of order downtime at its U.S. coated freesheet paper mills in the fourth quarter.