International Paper to invest $44M at La. mill

BOGALUSA, La.

Louisiana Gov. Bobby Jindal's office said Friday that International Paper Co. is spending $44 million on new equipment and technology and other upgrades at its Bogalusa mill.

Jindal's office said the investment helps retain more than 400 jobs at the facility.

International Paper became the century-old mill's fifth owner when the company acquired Temple-Inland Inc. in February.

International Paper is based in Memphis, Tenn., and operates 10 facilities in Louisiana.

The state offered a $2.2 million tax credit to assist with the upgrades, which are scheduled to be completed in mid-2013.