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
Mena Region Remains Key Destination For U.S. Softwood Lumber
The Middle East and North Africa (Mena) region remains a key destination for American softwoods amid the increasing demand within the region’s booming construction and housing market, according to American Softwoods (AMSO). The promotional partnership…
Global Softwood Lumber Trade Reaches 10-Year High In 2015
Global trade of softwood lumber reached a 10-year high in 2015, with lumber prices trending downward in many key markets over the course of the year, reports the Wood Resource Quarterly. A majority of the…
Oregon’s Mary’s River Lumber Company Closes
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Mary’s River Lumber Co., which had 80 workers at a cedar sawmill in Philomath and a finishing plant in Corvallis, has ceased operations after 42 years. The closure came on Monday…
Newsmakers 2016: DR Johnson Lumber Company
DR Johnson Lumber Co., based in the small Oregon town of Riddle, is poised at the forefront of what could be a revolutionary use of wood as a building material in the Northwest. Don R.…
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.