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
U.S. Hardwood Lumber Demand Indicator Lags Year-Ago Levels
Hardwood Publishing says its latest Leading Hardwood Demand Indicator (LHDI), while rising in the March through May 2015 period, is falling behind the levels of 2014. A big unknown: how much lumber China will be…
Pro South Announces New Mississippi Sawmill
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Officials from Pro South announce the company is expanding its operations by adding a sawmill at its location near Booneville, Miss., in Prentiss County. The project represents a $2.75 million company…
Flush With Lumber, N.A. Hardwood Buyers Slow Purchases
North American hardwood sawmills reported slow sales during the first half of March. “Normally we see business improve from the second week of January through May,” said one contact. “This year, we are quoting and…
Georgia-Pacific Concludes Deal For Alabama Lumber Facility
Georgia-Pacific today announced it has concluded an agreement with RoyOMartin for the transfer of RoyOMartin’s Mexia, Alabama, Rocky Creek lumber operations to Georgia-Pacific. The Rocky Creek lumber facility employs approximately 110 employees. Terms of the…
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.