International Paper Selling Lumber Unit To Georgia-Pacific

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381510056-0'); });

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.

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381461985-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381402298-0'); });

Latest News

Industries Parent Open For Business

Industries Parent officially started business operations in November during a ceremony at the Parent Sawmill. Industries Parent invested $21.5 million, including a $12.75 million loan from Investissement Québec and a $5.5-million loan from the Business…

AbitibiBowater Changes Name To Resolute Forest Products

AbitibiBowater has changed its name to Resolute Forest Products, effective this month. “We are changing our name to Resolute Forest Products to better reflect the fundamental characteristics of the company we are today, including our…

British Columbia Surpasses 2010 Lumber Export Record

British Columbia has broken another record in lumber exports to China this year, with shipments already surpassing 2010’s record total. According to the latest international merchandise trade data released by Statistics Canada, lumber exports over…

Oregon Lumber Company Planning Extended Downtime

Swanson Lumber recently announced that they are planning extended shutdowns due to hard times in the lumber industry at sawmills in Glendale and Roseburg, which will idle about 700 workers. The mills will shut down…

« Older Entries

Next Entries »

Find Us On Social

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381237439-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380448760-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380578329-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380709898-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380656716-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380767732-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380810300-0'); });

Newsletter

The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.

Subscribe Now

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.

Complete the form

Advertise

Complete the online form so we can direct you to the appropriate Sales Representative.

Contact Us