Gov. Fallin Applauds International Paper for Restarting Idled Operation in Valliant

Press Release

Governor Mary Fallin applauded today's announcement by International Paper that it will restart the previously idled No. 3 machine at its Valliant containerboard mill.

"International Paper's $90 million investment in McCurtain County will result in dozens of new jobs for Oklahoma families, and make the Valliant mill one of the largest and most efficient containerboard mills in North America," said Fallin. "Due in part to Oklahoma's commitment to pro-business, pro-growth policies, we were able to restart the previously idled machine and put Oklahomans back to work."

The No. 3 machine is scheduled to be operational in the summer of 2015 and will create approximately 65 new jobs. This will also allow the plant to produce an additional 360,000 tons of capacity to produce high quality medium, a packaging material.

"We are excited about the Valliant project. Restarting our No. 3 Containerboard Machine in Valliant will bring a terrific economic benefit to the area while helping us to improve our North American Containerboard Mill system," said Todd Crutcher, IP's director, Investment Strategy-Manufacturing, Containerboard. "We remain dedicated to matching our production with our customer demand."

International Paper idled the No. 3 Machine indefinitely in October 2009. The Valliant mill currently employs approximately 620 production, support and contract maintenance employees, with an annual payroll of $45 million. It is the largest employer in southeast Oklahoma.

About International Paper

International Paper (NYSE: IP) is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging and uncoated papers. Headquartered in Memphis, Tenn., the company employs approximately 65,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2013 were $29 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.

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