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. Housing Starts Rebound In February
U.S. housing starts brushed off a sluggish January and reached a seasonally adjusted rate of 1.45 million in February, up 9.8% over January. Single-family starts were 830,000, a percent above January, while multi-family (five units or more) were at 608,000, up a whopping 24% over January. The uptick in February broke a four-consecutive monthly decline for the combined starts…
Cooper Machine Partners With EWD
Cooper Machine Co., a long-established manufacturer of quality sawmill equipment located in Wadley, Ga., announced that it is partnering with German-based sawmill machine manufacturer EWD Sagetechnik. Cooper Machine has been offering equipment for sawmill, pallet, and post and pole mills since 1965. The company is in its third generation of successful management…
Canfor DeRidder Has Log Cranes In Place
Fulghum Industries, Inc. reports the commission of two recently installed 170 ft. 45-ton log cranes for Canfor. The cranes will be feeding the new $160 million sawmill at DeRidder, La…
New Pellet Mill Entices Area Sawmills
Some Georgia sawmills will have a new market for their byproducts as Spectrum Energy Georgia LLC plans to begin construction this summer of the largest industrial wood pellet facility in the world at Adel, Ga. and expects to commission the plant 12 months later, or summer of 2024. The plant will operate at the site of an idled particleboard facility. The plant will have the ability to receive and process all forms of biomass, including sawmill residues (chips, sawdust and shavings), pulpwood, top wood, and in-woods chips…
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.