These are difficult decisions impacting mills with a significant history for our company, ... However, the strong dollar has continuously weakened our export business in containerboard, while increasing imports of coated paper.
More Quotes from John Dillon:
We've got the best bid, we're excited about Champion, it's a company that fits very well with International Paper ( IP Research , Estimates ). They're headquartered very close to our headquarters. Their businesses fit very well with ours - big printing papers business, an important wood and timber business - and they've got a nice, nice position in Brazil, as well as a position in Canada. We see 425 million in merger benefits from putting two U.S. organizations together.John Dillon
These second-quarter results continue the favorable trend in industry conditions that we began to see earlier this year. We will be divesting or closing operations that no longer meet the company's financial or strategic objectives.
John Dillon
We've said all along that bringing together International Paper and Champion makes good sense because of the tremendous opportunities presented by a combined organization.
John Dillon
Our capacity management and divestiture efforts, coupled with a rigid financial discipline, are having a favorable impact on our performance and will continue.
John Dillon
Champion declared our offer to be superior yesterday, ... So at this point we are the superior offer and we expect to go forward and merge the two companies.
John Dillon
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