Please wait
Exhibit 21
International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025  
Name  Jurisdiction
3-102-948154 SOCIEDAD DE RESPONSABILIDAD LIMITADACosta Rica
Abbey Corrugated LimitedEngland & Wales
Ashton CorrugatedEngland & Wales
Ashton Corrugated (Southern) LimitedEngland & Wales
Avonbank Paper Disposal LimitedEngland & Wales
Bertako SLSpain
Biber Paper Converting LimitedEngland & Wales
Bilokalnik-IPA d.d.Croatia
Bretschneider Verpackungen GmbHGermany
Calara Holding LimitedEngland & Wales
Carolina Graphic Services LLCDelaware
Carton y Papel Reciclado, S.A.Spain
Cartonajes International, S.L.Spain
Cartonajes Union, S.L.Spain
CedarPak, LLCDelaware
CEMT Holdings Group, LLCDelaware
Certified Forest Management LLCDelaware
CircleTree Insurance CompanyTennessee
CMCP - INTERNATIONAL PAPER S.A.S.Morocco
CMCP - International Paper Tanger SARL AUMorocco
Commercial Realty & Properties LLCDelaware
Conew LimitedEngland & Wales
Corrugated Container CorporationVirginia
Corrugated Container Corporation of Shenandoah ValleyVirginia
Corrugated Container Corporation of TennesseeTennessee
Corrugated Products LimitedEngland & Wales
Corrugated Supply, L.L.CNew Jersey
Corrugated Supply, L.P.New Jersey
David S. Smith (Netherlands) B.V.Netherlands
David S. Smith Nominees LimitedEngland & Wales
Delta Packaging Services GmbHGermany
DS Smith (Luxembourg) S.a r.l.Luxembourg
DS Smith (UK) LimitedEngland & Wales
DS Smith AD SkopjeNorth Macedonia
DS Smith Ambalaj A.Ş.Turkey
DS Smith America (UK) LLPEngland & Wales
DS Smith Andorra, S.A.Spain
DS Smith Austria Holdings GmbHAustria
DS Smith B.V.Netherlands
DS Smith Baars B.V.Netherlands
DS Smith Basalt LimitedEngland & Wales
DS Smith Belisce Croatia d.o.o.Croatia
DS Smith Bulgaria S.A.Bulgaria
DS Smith Business Services LimitedEngland & Wales
DS Smith Business Services, S.L.Spain
DS Smith Corrugated Packaging LimitedEngland & Wales
DS Smith Creative Solutions Inc.New Jersey
DS Smith Cretan Hellas S.A.Greece
DS Smith De Hoop B.V.Netherlands
DS Smith De Hoop Holding B.V.Netherlands


Exhibit 21

International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025
 
Name  Jurisdiction
DS Smith Display Holding LimitedEngland & Wales
DS Smith Displays P&I, S.A.Portugal
DS Smith Dormant Five LimitedEngland & Wales
DS Smith Energia Viana, S.A.Portugal
DS Smith Euro Finance LimitedEngland & Wales
DS Smith Europe LimitedEngland & Wales
DS Smith Finco LimitedEngland & Wales
DS Smith FranceFrance
DS Smith Granite LimitedEngland & Wales
DS Smith Haddox LimitedEngland & Wales
DS Smith Hellas Netherlands B.V.Netherlands
DS Smith Hellas S.A.Greece
DS Smith Hetre BlancFrance
DS Smith Holding Italia S.p.A.Italy
DS Smith Holdings LimitedEngland & Wales
DS Smith Holdings LLCDelaware
DS Smith Inos Papir Servis d.o.o.Serbia
DS Smith International LimitedEngland & Wales
DS Smith Ireland Treasury Designated Activity CompanyIreland
DS Smith Italy B.V.Netherlands
DS Smith Italy LimitedEngland & Wales
DS Smith LimitedEngland & Wales
DS Smith Logistics LimitedEngland & Wales
DS Smith Management Resources LLCDelaware
DS Smith North America Recycling, LLCDelaware
DS Smith North America Shared Services, LLCDelaware
DS Smith Packaging AlesFrance
DS Smith Packaging Almelo B.V.Netherlands
DS Smith Packaging AnjouFrance
DS Smith Packaging Arenshausen Mivepa GmbHGermany
DS Smith Packaging Arnstadt GmbHGermany
DS Smith Packaging AtlantiqueFrance
DS Smith Packaging Austria Beteiligungsverwaltungs GmbHAustria
DS Smith Packaging Austria GmbHAustria
DS Smith Packaging Baltic Holding OyFinland
DS Smith Packaging Barneveld B.V.Netherlands
DS Smith Packaging BelgiumBelgium
DS Smith Packaging Belita B.V.Netherlands
DS Smith Packaging Beteiligungen GmbHGermany
DS Smith Packaging BH d.o.o. SarajevoBosnia and Herzegovina
DS Smith Packaging BretagneFrance
DS Smith Packaging Cartogal S.A.Spain
DS Smith Packaging CERAFrance
DS Smith Packaging ConsumerFrance
DS Smith Packaging Contoire-HamelFrance
DS Smith Packaging Czech Republic s.r.o.Czech Republic
DS Smith Packaging d.o.o. KrusevacSerbia
DS Smith Packaging Denmark A/SDenmark
DS Smith Packaging Deutschland StiftungGermany


Exhibit 21

International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025
Name  Jurisdiction
DS Smith Packaging Deutschland Stiftung & Co KGGermany
DS Smith Packaging Dicesa S.A.Spain
DS Smith Packaging Display and ServicesFrance
DS Smith Packaging DPFFrance
DS Smith Packaging DurtalFrance
DS Smith Packaging Estonia ASEstonia
DS Smith Packaging FegersheimFrance
DS Smith Packaging Finland OyFinland
DS Smith Packaging FranceFrance
DS Smith Packaging Galicia S.A.Spain
DS Smith Packaging Ghimbav S.R.L.Romania
DS Smith Packaging Hauts-de-FranceFrance
DS Smith Packaging Holding B.V.Netherlands
DS Smith Packaging Holding S.L.Spain
DS Smith Packaging Hungary KftHungary
DS Smith Packaging International B.V.Netherlands
DS Smith Packaging Italia S.p.A.Italy
DS Smith Packaging KaypacFrance
DS Smith Packaging LarousseFrance
DS Smith Packaging LimitedEngland & Wales
DS Smith Packaging Lucena, S.L.Spain
DS Smith Packaging Madrid, SLSpain
DS Smith Packaging MarketingBelgium
DS Smith Packaging Mehun-CIMFrance
DS Smith Packaging Netherlands B.V.Netherlands
DS Smith Packaging Nord-EstFrance
DS Smith Packaging Offset d.o.o. ValjevoSerbia
DS Smith Packaging Pakkausjaloste OyFinland
DS Smith Packaging Penedes S.A.U.Spain
DS Smith Packaging Portugal, S.A.Portugal
DS Smith Packaging Romania S.R.L.Romania
DS Smith Packaging SavoieFrance
DS Smith Packaging Seine NormandieFrance
DS Smith Packaging South East GmbHAustria
DS Smith Packaging sp. z o.o.Poland
DS Smith Packaging Sud-Est.France
DS Smith Packaging Sud-OuestFrance
DS Smith Packaging Sweden ABSweden
DS Smith Packaging Sweden AB NUF [Branch]Norway
DS Smith Packaging Sweden Holding ABSweden
DS Smith Packaging Switzerland AGSwitzerland
DS Smith Packaging SystemsFrance
DS Smith Packaging Tilburg B.V.Netherlands
DS Smith Packaging VelinFrance
DS Smith Packaging VervinsFrance
DS Smith Packaging-Holly Springs, LLCDelaware
DS Smith Packaging-Stream, LLCDelaware
DS Smith Paper CoullonsFrance
DS Smith Paper Deutschland GmbHGermany


Exhibit 21
International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025
Name  Jurisdiction
DS Smith Paper Italia S.r.l.Italy
DS Smith Paper KaysersbergFrance
DS Smith Paper LimitedEngland & Wales
DS Smith Paper Limitd SP z o.o. Oddzial W Polsce [Branch]Poland
DS Smith Paper RouenFrance
DS Smith Paper Viana, S.A.Portugal
DS Smith Paper Zarnesti S.R.L.Romania
DS Smith Pension Trustees LimitedEngland & Wales
DS Smith Perch LimitedEngland & Wales
DS Smith Perch Luxembourg S.à r.l.Luxembourg
DS Smith Polska sp. z o.o.Poland
DS Smith Portugal, SGPS, S.A.Portugal
DS Smith Quartz LimitedEngland & Wales
DS Smith Re S.A.Luxembourg
DS Smith Recycling Benelux B.V.Netherlands
DS Smith Recycling Bosnia d.o.o.Bosnia and Herzegovina
DS Smith Recycling Deutschland GmbHGermany
DS Smith Recycling FranceFrance
DS Smith Recycling Holding B.V.Netherlands
DS Smith Recycling Ireland LimitedIreland
DS Smith Recycling Italia SrlItaly
DS Smith Recycling Portugal, S.A.Portugal
DS Smith Recycling Spain S.A.Spain
DS Smith Recycling UK LimitedEngland & Wales
DS Smith Roma LimitedEngland & Wales
DS Smith Salm B.V.Netherlands
DS Smith Shanghai Trading LtdChina
DS Smith Slovenija d.o.o.Slovenia
DS Smith Spain, S.A.Spain
DS Smith Stange B.V. & Co. KGGermany
DS Smith Sudbrook LimitedEngland & Wales
DS Smith Supplementary Life Cover Scheme LimitedEngland & Wales
DS Smith Toppositie B.V.Netherlands
DS Smith Transport Services GmbHGermany
DS Smith Turpak Obaly, a.s.Slovakia
DS Smith Ukraine LimitedEngland & Wales
DS Smith Unijapapir Croatia d.o.o.Croatia
DSS Eastern Europe LimitedEngland & Wales
DSS Poznan LimitedEngland & Wales
DSSH No. 1 LimitedEngland & Wales
Eastpac OyFinland
English Oak LLCDelaware
Evergreen Community Power LLCDelaware
GCF (Asia) LimitedHong Kong
GCF (Asia) Limited (Branch Office)Korea (the Republic of)
GCF (Asia) Limited Singapore BranchSingapore
GCF (Shanghai) Co., Ltd.People's Republic of China
GCF (Shanghai) Co., Ltd. Guangzhou BranchPeople's Republic of China
GCF Bonds LLCDelaware


Exhibit 21
International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025

Name  Jurisdiction
GCF Japan LimitedJapan
GCF US Holdings LLCDelaware
Grovehurst Energy LimitedEngland & Wales
I.P. CONTAINER HOLDINGS (SPAIN) S.L.Spain
Iberian Forest Fund - Fundo de Investimento Imobiliario FechadoPortugal
International Paper (Asia) LimitedHong Kong
International Paper (Europe) S.à r.l.Luxembourg
International Paper (India) LLPIndia
International Paper (New Zealand) LimitedNew Zealand
International Paper Asia Limited (Branch Office)Korea
International Paper Canada Pulp Holdings ULCAlberta
International Paper Cartones Ltda.Chile
International Paper Cellulose Fibers (Poland) sp. z o.o.Poland
International Paper Cellulose Fibers Sales SàrlSwitzerland
International Paper Chalon SASFrance
International Paper Company [Delaware]Delaware
International Paper Company Employee Relief FundNew York
International Paper Company FoundationNew York
INTERNATIONAL PAPER DUTCH SERVICES B.V. IN LIQUIDATIENetherlands
International Paper Espaly SASFrance
International Paper Export Sales, Inc.Delaware
International Paper Financial Services, Inc.Delaware
International Paper France SASFrance
International Paper Holdings (Luxembourg) S.à r.l.Luxembourg
International Paper Investment (Shanghai) Co., Ltd.People's Republic of China
International Paper Investment (Shanghai) Co., Ltd., Guangzhou BranchPeople's Republic of China
International Paper Italia SrlItaly
International Paper Japan LimitedJapan
International Paper Madrid Mill, S.L.Spain
International Paper Manufacturing & Distribution LimitedHong Kong
International Paper Mexico Company, S. de R.L. de C.V.Mexico
International Paper Molded Fiber LLCNevada
International Paper Peru S.R.L.Peru
International Paper Polska Sp. z o.o.Poland
International Paper Professional Services CorporationDelaware
International Paper Switzerland GmbHSwitzerland
International Paper UK Holdings LimitedEngland & Wales
Interstate Container Columbia LLCDelaware
Interstate Container New Castle LLCDelaware
Interstate Container Reading LLCDelaware
Interstate Corrpack LLCDelaware
Interstate Holding LLCDelaware
Interstate Mechanical Packaging LLCDelaware
Interstate Paper LLCDelaware
Interstate Realty Hialeah LLCDelaware
Interstate Resources LLCDelaware
Interstate Southern Packaging LLCDelaware
IP Acquisition I, LLCDelaware
IP Belgian Services Company SRLBelgium


Exhibit 21
International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025

Name  Jurisdiction
IP Canada Holdings LimitedCanada
IP CBPR Properties 2 LLCDelaware
IP CBPR Properties LLCDelaware
IP Commercial Properties LLCDelaware
IP Eagle LLCDelaware
IP International Holdings, Inc.Delaware
IP Limestone CompanyDelaware
IP Mexico Holdings LLCDelaware
IP Petroleum LLCDelaware
IP Realty Holdings LLCDelaware
IP Singapore Holding Pte. Ltd.Singapore
IP-35, Inc.Delaware
JDS HoldingEngland & Wales
Lacebark LLCDelaware
Longleaf Insurance CompanyTennessee
Lost Creek, Inc.Delaware
Mangrove Insurance Europe PCC LimitedMalta
Merpas Hungary Kft.Hungary
Miljoint LimitedEngland & Wales
Multigraphics Holdings LimitedEngland & Wales
Multigraphics LimitedEngland & Wales
Multigraphics Services LimitedEngland & Wales
Newport Timber LLCDelaware
Nova DS Smith Embalagem, S.A.Portugal
Papir Servis DP d.o.o. KrusevacSerbia
Peninsular Cogeneración, S.A.Spain
Phoenix Technology Holdings USA, Inc.Delaware
Priory Packaging LimitedEngland & Wales
PT Total Marketing Support IndonesiaIndonesia
RB Lumber Company LLCDelaware
Red Bird Receivables, LLCDelaware
Reed & Smith LimitedEngland & Wales
RFC Container, LLCDelaware
Rowlandson FranceFrance
SIA DS Smith Packaging LatviaLatvia
SouthCorr, L.L.C.North Carolina
SP Forests L.L.C.Delaware
St. George Timberland Holdings, Inc.Delaware
St. Regis International LimitedEngland & Wales
St. Regis Kemsley LimitedEngland & Wales
St. Regis Paper Company LimitedEngland & Wales
Stort Doonweg B.V.Netherlands
Supplier Finance Company, LLCDelaware
Sustainable Forests L.L.C.Delaware
Tecnicarton FranceFrance
Tecnicartón Portugal Unipessoal LDAPortugal
Tecnicartón Tánger S.A.R.L. AUMorocco
Tecnicartón, S.L.Spain
Temple Associates LLCTexas



Exhibit 21
International Paper Company (NY)
Subsidiaries and Joint Ventures (Majority Owned)
as of December 31, 2025

Name  Jurisdiction
The DS Smith Charitable FoundationEngland & Wales
The Less Packaging Company LimitedEngland & Wales
TheBannerPeople.Com LimitedEngland & Wales
TIN Land Financing, LLCDelaware
TIN Timber Financing, LLCDelaware
TMS 360 SA (PTY) LtdSouth Africa
TMS America LLCIllinois
TMS Canada 360 Inc.Canada
TMS Egypt LLCEgypt
TMS Global Guatemala, Sociedad AnonimaGuatemala
TMS Global UK LimitedEngland & Wales
TMS Pakistan (Private) LimitedPakistan
TMS Shanghai Trading LtdChina
Toscana Ondulati S.P.A.Italy
Total Marketing Support (360) Malaysia Sdn. Bhd.Malaysia
Total Marketing Support 360 Mexico S.A de C.VMexico
Total Marketing Support 360 Nigeria LimitedNigeria
Total Marketing Support Argentina SAArgentina
Total Marketing Support Brazil LtdaBrazil
Total Marketing Support Chile SpAChile
Total Marketing Support Colombia S A SColombia
Total Marketing Support Ecuador TM-EC C.L.Ecuador
Total Marketing Support Global LimitedEngland & Wales
Total Marketing Support Honduras, S.A.Honduras
Total Marketing Support India Private LimitedIndia
Total Marketing Support Japan Ltd.Japan
Total Marketing Support Kazakhstan LLPKazakhstan
Total Marketing Support LimitedEngland & Wales
Total Marketing Support Middle East FZCOUnited Arab Emirates
Total Marketing Support Pacific Pty LtdAustralia
Total Marketing Support Peru S.A.C.Peru
Total Marketing Support Philippines, Inc.Philippines
Total Marketing Support Turkey Baskı Yönetimi Hizmetleri A.Ş.Turkey
Total Marketing Support Uruguay S.A.Uruguay
Treforest Mill plcEngland & Wales
U. C. Realty LLCDelaware
UAB DS Smith Packaging LithuaniaLithuania
United Corrstack LLCDelaware
United Shopper Marketing LimitedEngland & Wales
W. Rowlandson & Company LimitedEngland & Wales
Waddington & Duval LimitedEngland & Wales