International Paper announced Thursday it will close the Riceboro containerboard mill and Riceboro Timber and Lumber. The company also announced the closure of the Savannah containerboard mill and the Savannah packaging facility.

International Paper called the decision a series of strategic changes to achieve an advantaged cost position in a press release sent out by the company on Thursday morning.

International Paper’s closure of its Savannah paper mill will cost 1,100 jobs and likely will have an impact on SC's $23B forestry and timber industry.