date:May 03, 2013
International Paper Co, the largest producer of corrugated boxes in North America, posted a lower-than-expected quarterly profit on Thursday due to weak demand for food packaging and printing paper.
Strong sales of shipping boxes used by Amazon.com Inc and other key customers were not enough to offset sliding sales to meat and packaged-food customers, IP Chief Executive John Faraci said in an interview.
Shares of Memphis, Tennessee-based IP fell 5.9 percent to $43.20 in premarket trading. As o