The company’s forest products division saw its operating profits decline to US$100m from US$162m in the fourth quarter of 2006.
International Paper‘s overall net profits for the period were US$434m, compared to US$1.98bn in the preceding quarter.
The sale of the company’s 13 lumber mills to West Fraser Timber was recently completed and forms part of its move away from the lumber industry to its core paper and packaging businesses.
