International Paper Selling Lumber Unit To Georgia-Pacific
International Paper Co. is selling its building products unit to Georgia-Pacific LLC for $750 million cash, a move designed to sharpen focus on its massive packaging business.
The sale had been expected since IP acquired the unit, which sells lumber and particle board for home construction, as part of its $3.7 billion buyout of smaller rival Temple-Inland earlier this year.
IP is the largest North American producer of corrugated packaging, commonly used to make shipping boxes. Amazon.com Inc. is one of IP’s largest customers.
The sale gives IP more cash to invest in the packaging business.
Georgia-Pacific will get the unit’s 16 manufacturing facilities located primarily in southeastern and eastern United States, regions that are expected to see new home construction when the economy recovers.
From Reuters: reuters.com.
Latest News
China Log Imports Set Record
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); China had another record year of softwood log imports in 2018, as more than 16.96 billion BF (40 million m3) of logs landed at Chinese ports, according to a report from…
Kalesnikoff Plans Mass Timber Plant
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Kalesnikoff Lumber Co. announced it intends to build North America’s most advanced, fully integrated, multi-species mass timber manufacturing facility in South Slocan, BC, which will create 50 jobs. Kalesnikoff’s $35 million…
MSU Building Using CLT, Glulam Products
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); The Michigan State University STEM Teaching and Learning Facility will be the first in Michigan to use mass timber wood products, rather than concrete and/or steel, for its load-bearing structure. The…
Cross City Mill Has New Life
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Cross City Lumber, LLC, the former Georgia-Pacific sawmill in Cross City, Fla., is operating again under new ownership and recently named Wes Grant as President. GP stopped production in 2008 of…
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.