The company's vast North American operations and global exposure provide a unique ability to serve large multinational customers in industrial packaging, e-commerce, and food and beverage end markets. International Paper Co. (IP) recently optimized its North American containerboard system, enhancing its efficiency and introducing more flexibility in where it can manufacture products, and has added an estimated 250,000 tons of capacity. Exposure to emerging markets provides additional growth opportunities beyond IP's mature markets. We expect GDP growth to continue this year in IP's core markets, including North America, Europe, Asia, and Latin America, but at a slower pace. Under such a scenario, demand volume would be lighter compared to last year, and additional corrugated and box capacity being added to
