Weyerhaeuser’s Santa Paula Containerboard Packaging Plant joins International Paper
Santa Paula News
Published: August 13, 2008
The former Weyerhaeuser Containerboard Packaging Plant officially joined International Paper August 4 with the completion of IP’s purchase of Weyerhaeuser’s Containerboard, Packaging and Recycling (CBPR) business for approximately $6 billion in cash, subject to post-closing adjustments.
The former Weyerhaeuser Containerboard Packaging Plant officially joined International Paper August 4 with the completion of IP’s purchase of Weyerhaeuser’s Containerboard, Packaging and Recycling (CBPR) business for approximately $6 billion in cash, subject to post-closing adjustments. The plant, located at 140 W. Santa Barbara St., employs over 90 people.
Employees at the Santa Paula plant unveiled new International Paper signs earlier this month, and have been hosting a series of activities to acknowledge and celebrate the change in ownership. The Santa Paula container plant has been an important part of the community for the past 46 years.
“We’re looking forward to learning more about International Paper and what this opportunity will mean for our employees, our plant and this community,” said Ann Feng, plant manager. “We’ve been preparing for this transition for the last few months, and it feels good to be moving forward.”
International Paper’s plans to purchase Weyerhaeuser’s CBPR business, including the Santa Paula facility, were originally announced in March. Feng noted that International Paper “has a long history of supporting the communities where employees live and work. Like Weyerhaeuser, International Paper has a legacy of being good neighbors and stewards of the environment. We look forward to continuing to forge partnerships that make our community stronger.”
“We’re very excited about the opportunity we have with these new employees, customers and operations joining our team,” said Carol Roberts, senior vice president of International Paper’s packaging business. “International Paper is committed to the packaging business and this combination of two great businesses will make us the premier containerboard and corrugated packaging business in the world. Together, we can provide better solutions for our customers while becoming more profitable and more competitive as a company.”
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