John Dillon Merger Quotations

Now that the merger is completed and we have had a closer look into Champion's businesses, we are even more optimistic about the opportunities this acquisition will provide,

Our merger with Union Camp is going not only well, but well ahead of expectations.

We've got the best bid, we're excited about Champion, it's a company that fits very well with International Paper ( IP : Research , Estimates ). They're headquartered very close to our headquarters. Their businesses fit very well with ours - big printing papers business, an important wood and timber business - and they've got a nice, nice position in Brazil, as well as a position in Canada. We see $425 million in merger benefits from putting two U.S. organizations together.

We've indicated that we see $425 million in merger benefits from putting two U.S. organizations together, ... That's somewhat different than with UPM, of course; they're headquartered in Finland, and they will not see the same kind of merger benefits that we will, and merger benefits are important in acquisitions and mergers.

Not only are our markets getting better and our internal cost-cutting programs succeeding, we are also seeing the benefits of our merger with Union Camp reflected in our earnings. Going forward, we will continue to manage production in line with our customer orders and not build inventory.