SAVANNAH, Ga. (AP) — International Paper Co. said Thursday that it would close two Georgia paper mills, including one that has been a cornerstone of Savannah's economy for 90 years.

The company, based in Memphis, Tennessee, said it would stop making cardboard in Savannah and Riceboro by the end of September. The company will lay off about 800 employees in Savannah and about 300 employees in Riceboro, according to company statements and filings with state regulators.

The announcement came on the same day that the company said it would sell its pulp division to private equity firm American Industrial Partners for $1.5 billion. International Paper had previously announced it would consider a sale to focus the company solely on its packaging business. The sale is expected to close by the end

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