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IP shuts papermachine

International Paper is permanently shutting a papermachine at its mill in Franklin, Virginia, Reuters reported. A t…

International Paper is permanently shutting a papermachine at its mill in Franklin, Virginia, Reuters reported. A total of 50 employees will be impacted by the closure.

The decision to shut the machine will reduce International Paper’s annual production of uncoated freesheet by 150,000 tons. The company cited slumping demand for paper as necessitating the closure.