International Paper 2014 Annual Report Download - page 11

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Other recent investments continued to progress with
excellent results. In 2014, our Ilim joint venture’s upgraded
facilities in Russia continued operating at near full capacity
to help meet growing, long-term demand for high-quality
low-cost softwood pulp in north and central China. Ilim
shareowners benefitted from solid results in 2014, as the
Ilim board of directors elected to pay a dividend and
International Paper received $56 million.
In Poland, International Paper began producing our new
Alaska® Plus brand coated board on the rebuilt paper
machine at the Kwidzyn Mill. These new lightweight prod-
ucts have quickly gained popularity in the marketplace and
customers are realizing reduced costs and sustainability
benefits.
After more than 40 years of service and a decade of out-
standing leadership as chairman and CEO, John V. Faraci
retired on December 31. John led the transformation of
International Paper from a diversified set of businesses into
the strategically focused, highly successful global packaging
and paper company it is today. His strategic vision, drive
for results and passion for doing the right things for the
right reasons, will have a lasting impact.
We would also like to thank John F. Turner, who retired from
International Paper’s board of directors on December 31,
following nearly a decade of distinguished service. John’s
wealth of experience as a public servant and conservationist
has been a true asset to our board. We welcomed new
board member Ray G. Young on October 1. Ray is executive
vice president and chief financial officer for Archer Daniels
Midland Company, one of the largest agricultural processors
in the world. His broad based financial expertise, strategic
acumen and deep knowledge of international operations
add a unique and valuable perspective to the International
Paper board.
I’m excited about 2015 and our investors, customers and
team members should be as well. My commitment to you
is this: as a market leader, International Paper, will continue
to maintain our relentless focus on execution, leadership
and delivering value across our entire enterprise.
Thank you for your continued support and ownership of
International Paper.
Sincerely,
Mark S. Sutton
Chairman and Chief Executive Officer
International Paper
INTERNATIONAL PAPER 2014 ANNUAL REPORT
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