International Paper Completes Licensing Deal with Smart Planet Technologies
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International Paper, Leading Supplier of Coated Paperboard, Exploring Sustainable Packaging Options with Smart Planet Technologies™
New technology reduces plastic used in coated paperboard products.
MEMPHIS, Tenn. – January 11, 2013 -- International Paper (NYSE: IP) announced today it has completed a license agreement with Smart Planet Technologies to explore the development of products using EarthCoatingTM, a mineralized barrier coating for paperboard products. The company’s coated paperboard division plans to create a line of folding carton and cupstock products within their Everest® and Fortress® grade lines that would improve yield and reduce plastic use while offering the same barrier properties available today. Trial work and pilot testing are scheduled for the first quarter of 2013.
The EarthCoating mineralized resins are innovative, high performance coatings, which contain less plastic than traditional low-density polyethylene coatings. EarthCoating resins are heat-sealable and FDA-compliant for direct food contact.
“International Paper has a long history of providing innovative fiber-based packaging that is essential to everyday life”, said, Greg Gibson, vice president, Coated Paperboard. “As a leading supplier to the consumer packaging and food service markets, we know that paperboard converters and consumer product companies are focused on reducing the amount of packaging material they use while maintaining the required protective barriers and print performance. Our development initiative with Smart Planet Technologies and EarthCoating represents our efforts to create innovative and sustainable products that meet those needs."
About International Paper International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tenn., the company employs approximately 70,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2011 were $26 billion. Temple-Inland Inc., which was acquired in February 2012, had 2011 net sales of $4 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.
About Smart Planet Technologies Smart Planet Technologies is a materials R&D company focused on sustainability for the packaging industry. Through innovation, their technologies are focused to conserve precious natural resources and provide high quality, environmental alternatives to a wide variety of rigid, flexible, corrugated and paperboard packaging applications. For more information about EarthCoating and Smart Planet Technologies, visit SmartPlanetTech.com.
SOURCE International Paper
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