International Paper shares rise 6.16% after-hours on $225M Mississippi packaging plant expansion announcement.

International Paper (IP) surged 6.16% in after-hours trading following the announcement of a $225 million greenfield packaging facility in Rankin County, Mississippi. The 468,000-square-foot plant, set to replace older infrastructure and begin operations in late 2027, underscores the company’s strategy to optimize its manufacturing footprint and enhance operational efficiency. The investment, approved by the board after a comprehensive review, aims to strengthen IP’s cost position, improve product quality, and expand service capabilities in the Mid-South region. Mississippi Governor Tate Reeves highlighted the project as a testament to the state’s business-friendly environment, while Keith Townsend, IP’s group vice president, emphasized the alignment with long-term growth goals and sustainable packaging solutions. The move also follows IP’s recent decision to spin off its European, Middle Eastern, and African packaging operations, signaling a focused strategy on North American markets.