IP is cautiously optimistic

The International Paper's (IP) overhaul of its business poised the paper producer for growth regardless of boom or bust demand trends. The company remained in the midst of a nearly two-year downturn during which it struggled with low commodity prices and anemic demand. An aggressive cost-cutting program including more than $3 billion in asset sales and nearly 12,000 job cuts led IP to post a quarterly net profit for the first time in nearly two years. The weakening of the dollar versus the euro and the yen is also expected to help IP.