You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

MEMPHIS, Tenn., Feb. 1, 2021 /PRNewswire/ --International Paper (NYSE: IP) has been named toFORTUNEmagazine's list ofWorld's Most Admired Companies for the eighteenth time and ranked first among its peers. FORTUNE's World's Most Admired Companies list is the definitive report card on corporate reputations. Korn Ferry has collaborated with FORTUNE annually since 1997 to identify, select and rank the World's Most Admired Companies. "I am incredibly grateful for the International Paper team's response to the health crises and economic challenges caused by the COVID-19 pandemic. Achieving this award under these conditions is a testament to the team's outstanding character and efforts," said Mark Sutton, chairman, and chief executive officer. "International paper plays an essential role in producing products that people depend on every day. I want to thank our colleagues for keeping our operations running safely, serving our customers and achieving this recognition." To compile the rankings, corporate reputation and performance are measured against nine key attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products and services, and global competitiveness. About International Paper International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia. We produce corrugated packaging products that protect and promote goods, and enable world-wide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness; and papers that facilitate education and communication. We are headquartered in Memphis, Tenn., employ more than 48,000 colleagues and serve more than 25,000 customers in 150 countries. Net sales for 2019 were $22 billion. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com. SOURCE International Paper Related Links http://www.internationalpaper.com

Answer: International Paper Named to FORTUNE's List of World's Most Admired Companies, Ranked #1 in the Packaging, Container Industy