IP Reports Strong Q1 Containerboard Demand
International Paper (IP),Memphis,Tennessee, said demand for corrugated and containerboard has been strong this year in its first-quarter earnings report April 29. According to IP’s first-quarter earnings report, the com- pany achieved earnings of $349 million, about 88 cents per diluted share, compared with earnings of $153 million, or 39 cents per diluted share, in the fourth quarter of 2020 and compared with a loss of $141 million in the first quar- ter of 2020. IP reported that adjusted operating earnings were $299 million, or 76 cents per diluted share, compared with $296 million, 57 cents per diluted share, in the first quar- ter of 2020. Redishred Capital Acquires Proshred Richmond Redishred Capital Corp., which is headquartered in Mis- sissauga, Ontario, has completed the acquisition of the Pro- shred Richmond business from its franchisee located in Richmond, Virginia. The Richmond location earned about $870,000 in revenue during the 2020 fiscal year and just more than $1 million in the 2019 fiscal year. Redishred reported that the acquisition includes on-site paper shredding trucks, containers, client relationships and other assets used in the shredding business.
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Contact Randy Gibson 912-402-7968 | Randy@MPnorthamerica.com | www.Macpresse.com
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