International Paper Completes Printing & Writing Paper Spin-Off; Nine Dragons Paper Rises to No. 1 in Global Pulp & Paper Capacity
On October 1, 2021, U.S.-based International Paper, the world's largest papermaker, completed the spin-off of its global printing and writing paper business; the new company, Sylvamo Corporation, will operate independently. International Paper holds approximately 19.9% of Sylvamo's issued common stock.
After the spin-off, International Paper will focus on packaging paper production, corrugated packaging and cellulose fiber production. Its development focus will be North America, Europe, the Middle East and Africa, and it will continue to build a joint venture in Russia with Ilim.
In Paper360 magazine's 2019 global paper and paperboard output ranking, International Paper ranked first and Nine Dragons Paper ranked second.
According to International Paper's earlier announcement, after the spin-off it will have 20 paper mills with annual packaging paper capacity of 14.5 million tonnes, plus 8 pulp mills with annual capacity of 3.2 million tonnes. Total pulp and paper capacity will be 17.7 million tonnes.
China's largest papermaker, Nine Dragons Paper, disclosed in its just-released FY2021 annual report total designed annual pulping capacity (recycled pulp and wood pulp) of 850,000 tonnes and total designed annual papermaking capacity of 17.57 million tonnes. Its total pulp and paper capacity reached 18.42 million tonnes, surpassing the spun-off International Paper and making it the world's largest paper company by pulp and paper capacity. (The statistics cover listed companies worldwide; unlisted companies such as Indonesia's APP and April are not included.)
Early this year, Nine Dragons Paper also announced a large-scale pulp and paper capacity expansion plan, with plans to add in China and Malaysia 3.12 million tonnes/year of wood pulp, 600,000 tonnes/year of recycled pulp, 1.1 million tonnes/year of wood fiber and 6.25 million tonnes/year of papermaking capacity.
This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-378393.html
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