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International Paper debt lowered to $7.2 billion

Jan. 2, 2007 - International Paper today said that its debt at the end of 2006 stood at $7.2 billion, down from a figure of $13.4 billion at the end of the 2005 second quarter. At that time, IP announced its "tranformation plan," which would see the company narrow its focus to two business segments—uncoated papers, and industrial and consumer packaging—and divest of a number of its businesses and timberlands.

IP also said it contributed $1 billion to its U.S. pension funds in late 2006.

SOURCE: International Paper




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