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ACQUISITIONS
3 Months Ended
Mar. 31, 2016
Business Combinations [Abstract]  
Acquisitions [Note Text Block]
ACQUISITIONS
On March 16, 2016, the Company announced that it had entered into a binding agreement with Holmen Paper to purchase Holmen's newsprint mill in Madrid, Spain, and intends to convert the facility to produce recycled containerboard. Under the terms of the agreement, International Paper will purchase the Madrid newsprint mill, as well as associated recycling operations and a 50% ownership interest in a cogeneration facility. The transaction is expected to close during the second quarter of 2016, subject to certain regulatory approvals.
International Paper plans to convert the newsprint facility during the second half of 2017 to produce recycled containerboard with an expected capacity of 380,000 metric tonnes. Once completed, the converted mill will support the Company's corrugated packaging business in EMEA. The Company's aggregated purchase price for the mill, recycling operations and 50% ownership of the cogeneration facility is €50 million (approximately $57 million using March 31, 2016 exchange rate), subject certain closing and post-closing adjustments.