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
Idaho Industry Teams Up With Colleges To Fill Sawmill Jobs
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Idaho’s sawmills once relied on the brute strength of their workers to turn logs into lumber. Now, they need more employees like Jeremy Lozano-Keays. The 30-year-old electrical technician is part of…
Florida’s Rayonier Offers $807 Million In Friendly Offer For Tembec
Montreal-based lumber, paper and pulp producer Tembec has received an $807 million US offer to take over the company from Florida-based conglomerate Rayonier Advanced Materials. Jacksonville-based Rayonier is offering Tembec shareholders $4.05 Cdn per share,…
Analyst: Canfor Corp., West Fraser Timber Merger Speculation
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Recent activity at West Fraser Timber Co. Ltd. has revealed that British Columbian billionaire Jim Pattison owns a significant minority stake in the company, prompting speculations of a merger with rival…
Simonds International Announces Merger With Scies B.G.R. Inc.
Simonds International and Scies B.G.R. Inc. recently announced the merger of the companies in a transaction that will create the leading producer and marketer of cutting tools and related equipment for the primary wood fiber…
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.