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
Closure Of Oregon Mill Highlights Logging Stalemate In Congress
Citing a lack of federal timber, Rough & Ready Lumber is closing its 90-year-old sawmill in Cave Junction, Oregon the last mill operating in southwest Josephine County. The closure, announced Wednesday, means the loss of…
Weyerhaeuser Rises On Timber, Lumber And Homebuilding
Weyerhaeuser is fired up about the housing recovery. It manages and harvests timberlands and manufactures wood products used in home construction, such as plywood, particleboard and engineered wood. Weyerhaeuser also builds single-family homes under various…
Lack Of Timber Challenges Montana Sawmill
It is spring break-up in the Montana mountains, where wet, muddy conditions prevent loggers and haulers from working for the next few weeks. However, Sun Mountain Lumber, in Deer Lodge, has an adequate supply of…
Roseburg Forest Products Mill Manager Fired, Plant Fined $130K For Pollution
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Roseburg Forest Products’ Missoula mill has paid $130,925 in fines after self-reporting several air quality violations dating back to 2006. The Montana Department of Environmental Quality said Friday it settled an…
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.