—  International Paper is set to create two independent, publicly traded companies, a year after it completed its acquisition of DS Smith. One company will be comprised of its current business in North America including both legacy IP and DS Smith assets, while the new EMEA (Europe, Middle East, and Africa) Packaging business will be comprised of both legacy DS Smith and IP assets in EMEA. “The separation will create two leading sustainable packaging solutions companies, each with focused management teams and business models, tailored investment and capital allocation strategies, and compelling financial profiles,” International Paper stated. The company said that combining IP and DS Smith enabled it to significantly strengthen its businesses in both North America and EMEA and that it has since recognized significant regional benefits, improved customer delivery, and strengthened its relative supply position in both geographies.“The two businesses operate in distinct market environments and are at different stages of their transformation. IP said we have learned a lot about how to create value in each region.