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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
JANUARY 20, 1998
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Date of Report (Date of Earliest Event Reported)
INTERNATIONAL PAPER COMPANY
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(Exact name of Registrant as specified in its charter)
New York 1-3157 13-0872805
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(State of (Commission (IRS Employer
Incorporation) File) Identification Number)
Two Manhattanville Road, Purchase, NY 10577
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(Address of Principal executive offices)
914-397-1500
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(Telephone No.)
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
N/A
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
N/A
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
N/A
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
N/A
ITEM 5. OTHER EVENTS
The registrant issued a press release on January 13, 1998,
announcing that they signed a memorandum of understanding
regarding a purchase of one-half of the outstanding shares of
Olmuksa, a containerboard and box company in Turkey. Olmuksa
will operate in the future as a joint venture with International
Paper and Sabanci Holding, each holding a 42% interest.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
N/A
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements:
N/A
(b) Pro Forma Financial Information:
N/A
(c) Exhibits:
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(99) .
ITEM 8. CHANGES IN FISCAL YEAR
N/A
Signature
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
INTERNATIONAL PAPER COMPANY
(Registrant)
Date: January 20, 1998 /S/ CAROL M. SAMALIN
Purchase, NY --------------------------------------
Carol M. Samalin
Assistant Secretary
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[LETTERHEAD]
News Release
Media Contacts: Analyst Contacts:
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Phillip Giaramita Carol Tutundgy
(914) 397-1665 (914) 397-1632
Molly Sullivan Maryanne Rupy
(914) 397-1652 (914) 397-1626
Brian Turcotte
(914) 397-1623
INTERNATIONAL PAPER JOINT VENTURE WILL ADD TO INDUSTRIAL
PACKAGING SECTOR'S GLOBAL MARKETING PRESENCE
January 13, 1998
PURCHASE, N.Y. -- International Paper and H.O. Sabanci Holding A.S., based in
Istanbul, Turkey, announced today that they have signed a memorandum of
understanding regarding the purchase by International Paper of one-half of
the outstanding shares of Olmuksa Oluklu Mukavva Sanayi ve Ticaret A.S.,
known as Olmuksa, currently owned by Sabanci Holding and its affiliates. The
parties expect to complete the transaction by the end of February.
Olmuksa, one of the oldest publicly traded companies in Turkey, is
engaged in the manufacture of containerboard and corrugated boxes through one
paper mill and three corrugated container plants in Turkey. Sales in local
and export markets in 1997 totaled approximately $60 million.
Olmuksa will operate in the future as a joint venture company, with
International Paper and Sabanci Holding each holding a 42-percent interest.
The combined 84-percent stake represents all of the shares of Olmuksa, which
are not publicly traded.
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Sabanci Holding is one of the two largest industrial and financial
conglomerates in Turkey. It is the leader in many business segments in
Turkey, with more than 50 affiliated companies and over 27,000 employees.
Total combined revenues for 1997 amounted to approximately $8.5 billion.
Sabanci Holding has grown through the expansion of existing core businesses
and through the formation of 17 joint ventures, each with world leaders in
their fields.
International Paper, in its 100th year of operation, is a worldwide
producer of printing papers, packaging and forest products. The company also
operates specialty businesses in global markets as well as a broadly-based
distribution network. Headquartered in Purchase, N.Y., the company has
operations in 31 countries, employs more than 80,000 people and exports its
products to more than 130 nations.
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