International Paper Announces Contribution to Pension Fund

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Sep 14, 2010, 11:24 ET

MEMPHIS, Tenn., Sept. 14 /PRNewswire/ -- International Paper (NYSE: IP) today announced it is making a $650 million voluntary contribution to its U.S. pension fund. In July of 2010, International Paper made a voluntary contribution of $500 million to the fund, which brings the year-to-date contribution total to $1.15 billion. "These contributions to the U.S. pension fund help fulfill our long-term funding requirements and will reduce our future pension expense," said Robert Hunkeler, International Paper's vice president of investments.

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International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers, industrial and consumer packaging and distribution. Headquartered in Memphis, Tenn., the company employs about 60,000 people in more than 20 countries and serves customers worldwide. 2009 net sales were more than $23 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.

SOURCE International Paper