Georgia Pacific to Acquire 16 Building Products Manufacturing Facilities from International Paper

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Researched by Industrial Info Resources (Sugar Land, Texas)--Georgia-Pacific LLC (Atlanta, Georgia) and International Paper (NYSE:IP) (IP) (Memphis, Tennessee) have reached an agreement for Georgia-Pacific to acquire IP's Temple-Inland Building Products division for $750 million in cash, subject to certain pre-and post-closing adjustments. The assets to be sold include 16 manufacturing facilities: five solid wood mills, four particleboard plants, two medium-density fiberboard plants, one fiberboard plant and four gypsum wallboard plants.

The Building Products division manufactures a wide array of building products across eight states, primarily in the southeastern and eastern regions of the U.S.

The transaction is expected to close in the first quarter of 2013, subject to satisfaction of various closing conditions, including obtaining required government approvals. IP said that it intends to use the proceeds from the sale to reduce its debt.

According to Georgia-Pacific, the transaction will allow the company to expand its geographic footprint and enhance service to new and existing customers.

Industrial Info's online plant database lists more than 90 plants owned by Georgia-Pacific and more than 185 plants owned by IP that manufacture pulp, paper and wood products, and includes key plant management contacts.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.