11:08 AM EDT, 10/31/2024 (MT Newswires) -- International Paper ( IP ) said Thursday it is reviewing strategic options for its global cellulose fibers unit as it shifts focus to sustainable packaging.

The cellulose fibers business supplies absorbent pulp for personal care and specialty pulp for various applications, including in textiles, construction materials, paints, coatings, the company said.

Morgan Stanley is advising the company on the review, International Paper ( IP ) said.

Additionally, International Paper ( IP ) said it will permanently close its Georgetown, South Carolina mill by the end of 2024.

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