International Paper To Keep Arizona Chemical/Appoint New Vice President
JACKSONVILLE, Fla. -- International Paper (IP) has decided to discontinue the efforts to divest its Arizona Chemical business. The business will remain a part of International Paper. After reviewing its options, IP determined that the best course of action for Arizona Chemical's future and International Paper's success is to keep the business.
"Arizona Chemical has a sound strategy in place for growth, and International Paper will provide support to the business as it executes that strategy and wins in the marketplace," said Jim Melican, executive vice president of IP. "This announcement should put to rest the uncertainty surrounding Arizona Chemical's future and allow its people to focus on making money and exceeding customers' expectations."