International Paper Co. (IP) said on Nov. 30 it would proceed with a divestiture of its Arizona Chemicals as part of a $3 billion divestiture program. Arizona, which produces pine-based chemicals, was profitable, said a spokesman for IP, but IP does not break out separate numbers. The spokesman did say that between Arizona and IP’s chemical cellulose business, total revenues were $885 million, the majority of which were attributable to Arizona. That figure represents about 3% of Purchase, N.Y.-based IP’s annual sales.
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