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
Bandit Industries Receives EPA Award
Bandit Industries, Remus, Mich., recently received an Environmental Protection Agency award in recognition of efforts to reduce hazardous chemicals through the National Partnership for Environmental Priorities (NPEP) program. The award was presented to Bandit Industries…
Coastal Lumber Ceases Operations
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1548381510056-0’); }); Charlottesville, Va. based Coastal Lumber Co., long a major hardwood lumber producer, closed operations in mid-August. The company laid off 200 employees and shut down five sawmills in West Virginia, nearly…
AbitibiBowater Planning To Reopen Ontario Sawmill
Ignace, Ontario may regain its identity as a forestry town with AbitibiBowater planning to reopen an idled sawmill. The company recently announced its plans to invest $32 million to upgrade the northwestern Ontario mill with…
Woody Biomass Supply Chains Conference & VIP Tour Of The Mid-Atlantic Logging & Biomass Expo
Conference Overview The production of energy from woody biomass can be an important component of a comprehensive plan to reduce greenhouse gas emissions and increase energy security. Biomass represents 79% of independent renewable energy generation…
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.