Storms cost International Paper $40-50 million: CEO
The barrage of winter storms has had a severe impact on business at International Paper , Chairman and CEO John Faraci told CNBC on Friday.

The weather has cost the company $40 million to $50 million in January and the first few days of February in lost production, lost sales and higher energy prices, he said.

"It's really geographic specific," he added. "When it gets in the Southeast, that's what really mucks things up, because they don't have the infrastructure to deal with bad weather."



(Read more: All of that snow is dragging down US growth)

In a "Squawk Box" interview from the Sochi Winter Olympics, Faraci said: "When I left [for Russia] I thought it was over."