International Paper to make $250 million investment in Selma mill
International Paper has announced it will make a $250 million investment in its Riverdale Mill in Selma.
That investment is part of other changes the company is making, as it plans to close its Riceboro Mill, Savannah Mill and Savannah Box Plant in Georgia.
The investment in Selma will convert the #16 machine at the Riverdale mill to produce containerboard.
“Our investment in the Riverdale mill reflects our commitment to delivering high-quality, reliable service while strengthening our advantaged cost position,” Tom Hamic, Executive Vice President and President of International Paper’s North America Packaging Solutions business, said.
The Riverdale conversion in Selma is expected to be completed by the third quarter of 2026.
International Paper says it’s made an agreement with American Industrial Partners to sell its Global Cellulose Fibers business for $1.5 billion. The company had announced last year that it would review strategic alternatives for its GCF business, as part of the company’s strategy to focus on sustainable packaging solutions. The transaction is expected to close by the end of the year.
The permanent closure of the facilities in Georgia will impact approximately 1,100 hourly and salaried positions. The company said it will offer severance packages, along with outplacement assistance for eligible employees, to support them during this transition.
The Georgia shutdowns will happen in phases by the end of September. These combined changes will result in a net reduction of the company’s annual containerboard capacity by approximately one million tons.
