The plan will include narrowing the company’s portfolio to two key platform businesses; improving shareowner returns through mill realignments in those businesses and additional cost improvements; and exploring options to sell or spin-off other businesses. The two key platform businesses that the company will concentrate on are Uncoated Papers and Industrial and Consumer Packaging.
“We already have a strong global position in uncoated paper and have a growing worldwide platform in packaging. Our portfolio changes will allow us to better focus management attention and financial resources on these key businesses, which represent over 70 percent of our sales, and can achieve both cost-of-capital returns and profitable growth,” said John Faraci, chairman and CEO.
