International Paper chairman to deliver keynote address at
130th Annual Paper Week
WASHINGTON, DC - The American Forest & Paper Association (AF&PA) said that John Faraci, chairman and CEO of International Paper, will be the keynote speaker at the industry-wide General Session during the 130th Annual Paper Week in New York City.
Faraci will discuss IP's tranformation plan that was announced in July 2005, which would see the company narrow its focus to uncoated paper and packaging globally.
Since the plan was initiated, IP has sold non-core businesses, along with timberlands, that have generated proceeds totalling over $11 billion. The company has reduced its debt by about $6.2 billion, from $13.4 billion at the end of the second quarter of 2005, to about $7.2 billion at the end of 2006. IP also made voluntary contributions totaling $1 billion to its U.S. pension fund.
The General Session will take place on Monday, March 26, from 8:30 to 10:30am at The Waldorf=Astoria Hotel.
The General Session will also feature speakers who will address the current industry trends of consolidation and globalization, and the resulting challenges and opportunities.
Dr. Jeffrey Rosensweig, Director of the Global Perspectives Program in the Goizueta Business School at Emory University, will apply his expertise in global economics and finance and deliver information on critical emerging global markets, particularly China and India. He has appeared on ABC's World News Tonight and Good Morning America, NBC's Today Show and Nightly News, and frequently as an economic commentator for CNN's Headline News.
In addition, Mark Connelly, Managing Director at Credit Suisse, will address the economic state of the forest products industry. Connelly is head of Credit Suisse's global paper and forest products research team and has considerable Wall Street experience.
About AF&PA's 130th Annual Paper Week
AF&PA's 130th Annual Paper Week will be held March 25-27, 2007, at The Waldorf=Astoria Hotel in New York City. Paper Week is the premier annual event for the U.S. pulp, paper, and packaging industry, attracting participants from all segments of the business, including domestic and foreign companies, producers, customers, suppliers, media, business strategists, industry experts, and leading financial analysts. For more information on Paper Week 2007, including how to register, buy luncheon tickets, reserve hotel accommodations, or become a sponsor, visit www.paperweek.org.
AF&PA is the national trade association of the forest, paper, and wood products industry. AF&PA represents companies and related associations that engage in the manufacture of
pulp, paper, paperboard, and wood products. The forest products industry accounts for approximately 6 percent of the total U.S. manufacturing output, employs more than one million people,
and ranks among the top 10 manufacturing employers in 42 states with an estimated payroll exceeding $50 billion.