International Paper received a dividend of $100 million from Ilim Group, IP's joint venture partner in Russia. The dividend is based on prior year performance, and in 2016, the JV set production records at all three of its mills and realized higher sales volume due to increased demand for its products. Since inception in 2007, IP has received a total of $516 Million in dividends from the Ilim JV. "This dividend reflects the significant progress we've made together during the past 10 years," said Mark Sutton, Chairman and Chief Executive Officer. "This summer marks the 10th anniversary of our joint venture with Ilim, and we are very pleased with the investment and the relationships we've forged as we work together to create an even better business. The business is focused on serving customers in key markets such as Russia, Asia and Europe with a world class, low cost asset base and excellent commercial capabilities. The JV is a great example of IP's strategy of establishing advantaged positions in attractive markets." click Read More below for additional detail
According to the August 2018 Printing-Writing Monthly report from the American Forest & Paper Association, total printing-writing paper shipments decreased 11 percent in August compared to August 2017. Total printing-writing paper inventory levels decreased three percent from July. Imports of printing-writing papers in July increased six percent compared to July 2017 imports, while exports declined 24 percent compared to July 2017.
•Shipments of coated mechanical (CM) paper decreased 11 percent year-over-year in August. Inventory levels decreased six percent. Exports of CM papers increased five percent in July compared to July 2017.
•Shipments of uncoated mechanical (UM) papers decreased 21 percent year-over-year in August. Imports of UM decreased two percent year-over-year in July. Exports of UM decreased 70 percent year-over-year in July.
•Shipments of uncoated free sheet (UFS) paper and coated free sheet (CFS) papers both decreased year-over-year in August. July imports of UFS papers increased 37 percent compared to July 2017, while imports of CFS papers increased two percent compared to last July.