IP targets $1.2-1.3 billion capex in 2011, up from $655 million 2-yr average

摘要

International Paper (IP) told analysts last week that it will increase capital spending to $1.2-1.3 billion this year, after cutting back outlays to $775 million in 2010 and $534 million in 2009 in response to the global recession. The company said that the higher spending would be for maintenance, meeting US boiler MACT (maximum achievable control technology) regulatory requirements as well as energy-focused cost reduction and strategic projects.