Sylvamo, International Paper Terminate Supply Deal at Georgetown Mill in South Carolina

MT Newswires Live10-31

Sylvamo (SLVM) said Thursday that the company and International Paper (IP) are mutually terminating a supply deal on Dec. 31 for uncoated freesheet, bristols and specialty papers at a mill in Georgetown, South Carolina.

Sylvamo said it is moving many paper grades from Georgetown to its mills in Ticonderoga, New York, and Eastover, South Carolina, and International Paper will stop operations at the Georgetown mill.

"We have been preparing for this possibility since our 2021 spinoff from International Paper," said Sylvamo Chief Executive Jean-Michel Ribieras. "We will support our customers through this transition and will retain the most profitable products from Georgetown, reducing economic downtime in our mill system and improving our mix."

Price: 85.01, Change: -0.47, Percent Change: -0.55

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