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
Sierra Pacific Industries Reports Record Losses In Recent Wildfires
A record amount of Sierra Pacific Industries land has been torched by the wildfires burning in eastern Shasta County. The nation’s second-largest timber producer estimated that roughly 33,000 acres of its timber had burned as…
Lumber Revival Sweeps The West
West Fraser Timber Co. and Western Forest Products Inc. are leading Canadian lumber producers to the biggest combined profit since 2006 as mills run at five-year highs to feed a U.S. housing rebound and near-record…
Ochoco Lumber To Close Sawmill In John Day, Oregon
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Ochoco Lumber Company announced that Malheur Lumber Company in John Day, Ore. will close its operations for their sawmill and related departments on Nov. 1, 2012. Employees were given the news…
Sawmills Move Out Of The Forest, Into The City
It looks like any sawmill in the forest: piles of cherry, walnut and oak tree trunks stacked high, trucks rumbling in and out, workers operating a saw. There’s one exception though: There’s seemingly no forest…
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.