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International Paper Announces Completion of Sylvamo Corporation Spin-Off

International Paper continues to own approximately 19.9% of the outstanding shares of Sylvamo common stock.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

International Paper Company announced the completion of its previously announced separation and spin-off of its global printing papers business, now operating as Sylvamo Corporation. Each International Paper shareholder received one share of Sylvamo common stock for every eleven shares of International Paper common stock held on the record date. International Paper continues to own approximately 19.9% of the outstanding shares of Sylvamo common stock.

“The spin-off enhances the strategic flexibility and focus for long-term success and value creation at both companies. International Paper is now a highly-advantaged, corrugated packaging-focused company, well-positioned to grow earnings and cash generation,” said Mark Sutton, chairman and CEO.

Sylvamo common stock is expected to begin “regular way” trading on the New York Stock Exchange today under the symbol “SLVM” and the CUSIP number 871332 102.

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