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
July 8, 1997
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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.)
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 today announcing a series of
actions to improve the company's financial performance that will
result in a $535 million pre-tax charge against 1997 second-quarter
earnings. These actions include divesting or closing operations that
no longer meet the company's financial objectives.
The Registrant also announced that it will take an additional
pre-tax charge of $150 million to add to its legal reserve.
The Company issued another press release announcing that
Peter I. Bijur, Chairman and Chief Executive Officer of Texaco Inc.
was elected to the Board of Directors of International Paper Company
effective immediately.
Mr. Roger A. Smith will retire from the Board as of July 12, 1997.
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:
(99) Press release dated July 8, 1997, announcing a
pre-tax charge of $535 million; a series of actions to improve
the company's financial performance; the closing or divesting of
certain operations; and an additional pre-tax charge of $150
million to add to its legal reserve.
Press release dated July 8, 1997, announcing that Peter
I. Bijur, Chairman and Chief Executive Officer of Texaco Inc. was
elected to the Board of Directors of International Paper,
effective immediately.
Mr. Roger A. Smith will retire from the Board as of
July 12, 1997.
ITEM 8. CHANGES IN FISCAL YEAR
N/A
Signature
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: July 8, 1997 /S/ CAROL M. BERARDI
Purchase, NY ---------------------------
Carol M. Berardi
Assistant Secretary