Packaging online staff

John Faraci, chief executive of Memphis-based International Paper (IP), received compensation last year valued at $10.3 million, 4 percent less that the previous year.

Jackson Paper Manufacturing Co. recently invested $1.85 million to upgrade its corrugating medium mill in Sylva, N.C.

Georgia-Pacific (GP), Atlanta, has indefinitely laid off approximately 12 employees at its Dubuque, Iowa, corrugated box plant.

International Paper Co. (IP), Memphis, Tenn., plans to cut a production shift and two work days at its Mount Vernon, Ohio corrugated container plant in May, trimming the operation's staff by a third or 58 workers.

The U.S. Bankruptcy Court for the Eastern District of Virginia approved the sale of Richmond, Va.-based Chesapeake Corp.'s operating businesses to a group of investors, including affiliates of Irving Place Capital Management, L.P. and Oaktree Capital Management, L.P.

P&G Packaging Inc., Scotia, N.Y., has filed for Chapter 11 bankruptcy protection.

Pratt Industries, Conyers, Ga., has successfully started up a paper machine for lightweight recycled linerboard and corrugating medium at its new greenfield mill in Shreveport, La.

Union workers at Chicago-based Smurfit-Stone Container Corp.'s (SSCC) St. Joseph, Mo., box plant, set to close April 7, have not been offered severance packages.

Venezuelan President Hugo Chavez has seized land belonging to Irish packaging giant tycoon Michael Smurfit.

Smurfit-Stone Container Corp., (SSCC), Chicago, recently let go of 12 hourly and four temporary employees at its Lexington, N.C., corrugated container plant.