International Paper has announced plans to shut down three North American paper machines "indefinitely" within its containerboard and coated paper business.
The shutdowns will reduce the companys containerboard capacity by 610,000 tonnes (12%) a year and cut 60,000 tonnes (7.5%) of coated freesheet capacity.
Chairman and chief executive John Dillon said the strong dollar had "continually weakened" the groups export business in containerboard, while increasing imports of coated paper.
A total of 515 jobs will go from the companys Hudson River and Savannah mills along with a further 140 jobs from across the business.
These losses are in addition to previously announced plans to cut 3,000 jobs in the US, when it consolidates its five regional operations into three.
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