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International Paper to Divest Arizona Chemical

January 26, 2001
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JACKSONVILLE, Fla. – In late November, International Paper (IP) announced its plans to divest Arizona Chemical to provide a better long-term future for the pine-chemical business. This decision comes in conjunction with IP’s previously announced $3-billion divestiture program to sell assets.

“We understand this announcement will create uncertainty for Arizona Chemical employees, their families and other stakeholders, and we will do all we can to assist employees with any issues that arise during this divestiture process,” said Larry Stowell, vice president, Arizona Chemical.

According to Stowell, IP’s intentions are to sell the business as a complete entity. “At this time, we don’t know how long this process will take, and it’s premature to speculate on any outcomes. The best business strategy for all of us on the Arizona Chemical team is to continue our focus on our customers, environmental and safety performance, and the future of this business.”

Arizona Chemical (www.arizonachemical.com) is a global leader in pine chemistry. Headquartered in Jacksonville, Fla., the company has eight manufacturing plants in the United States and seven in Europe. It supplies pine chemicals to the adhesives, inks, and coatings and oleochemicals markets. International Paper (www.internationalpaper.com) is the world’s largest paper and forest products company. Businesses include paper, packaging and forest products.

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