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
Pope Resources: Log And Lumber Export Demand Adds Tension To Pricing
Lumber supplier Pope Resources says a new sawmill in Washington and diminished imports of Canadian logs are driving up its prices. “Log markets in our operating regions are strong due to a multitude of demand…
Report: Overseas Imports Impeding New Softwood Lumber Agreement
Canada and the United States must chop down one big, remaining impediment to a deal on softwood lumber and this obstacle involves wood from neither country but from other places: Germany, Sweden, Chile, Brazil and…
After A Period Of Quiet Time, Canadian Buyout Of SYP Mills Resumes
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); West Fraser Timber Co. Ltd. has entered into an agreement to acquire the operations of the Gilman Companies from the Howard Gilman Foundation and other shareholders for approximately US$430 million. The…
U.S. Senators Urge Quotas On Canadian Lumber
Seven members of the Senate Finance Committee on Tuesday called the Trump administration to set quotas on Canadian softwood lumber and closely consult with Congress during negotiations of a final agreement. Senate Finance Committee ranking…
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.