On the threshold of the 21st century, International Paper is a diversified, global company with manufacturing operations in the western hemisphere, Europe, Asia and Africa. Its international presence is the result of long-term changes that evolved since the company's founding in 1898. Starting as a pulp and paper company based in the northeastern part of the United States, IP expanded into Canada and the American South during the 1920s. Three decades later, the company began expanding beyond North America. This was followed during the 1980s by the acquisition of subsidiaries operating in Europe, Africa and Asia.