Russian Pulp Business Is Still Delivering for International Paper

By Ryan Dezember
The Wall Street Journal
November 22, 2022
Category: Business & Politics
Region: United States, International

Russia has been a big cause of corporate losses since it invaded Ukraine, prompting companies to cut ties. At International Paper however, Russia remains a major source of cash and an important contributor to the dividend that draws investors to its shares. Companies were filing out of Russia in March when IP said it would explore options, including a sale, for its 50% stake in Ilim Group, a pulp and paper giant with government license to log swaths of Siberia and the western taiga. …Western businesses have faced pressure to sever ties with Russia since the invasion, even if doing so costs them billions of dollars. But not every company has said it would leave and even for those that have, such as IP, exiting can be complicated. …“The complexity of the situation and our joint-venture structure impact the pace of reaching a resolution,” Chief Executive Mark Sutton said. [to access the full story a WSJ subscription is required]

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