logo
Share SHARE
FONT-SIZE Plus   Neg

International Paper Finalizes Sale Of Temple-Inland Building Products Unit

International Paper (IP) announced that it has finalized the sale of its Temple-Inland Building Products division to Georgia-Pacific Building Products, LLC for $710 million in cash, subject to customary closing adjustment.

The division's assets include 15 manufacturing facilities: five solid wood mills, four particleboard plants, one medium-density fiberboard plant, one fiberboard plant and four gypsum wallboard plants. The facilities are located across eight states, primarily in the southeastern and eastern portions of the United States, with access to five of the top 12 housing markets.

In December, International Paper agreed to sell its Temple-Inland building products unit to Georgia-Pacific LLC for $750 million in cash in order to focus on its paper and packaging business.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon.com Inc. is launching free same-day delivery for its Prime members in Toronto and Vancouver as the busy holiday shopping season is fast approaching. Starting Tuesday, the online retailer will offer free same-day deliveries on orders over $25 of one million items in Toronto and 700,000 items in Vancouver. These items ranges from everyday household goods to toys, electronics and luggage. Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday said its first-quarter profit rose 6 percent from a year ago, driven largely by higher revenues. Shares of the company slipped over 6 percent in the after-hours trading, hurt by weak futures orders. Beaverton, Oregon-based... Germany, a clean-power trendsetter country, is planning to introduce hydrogen powered trains. The environment friendly "Coradia iLint" long distance passenger hydrails are expected to be operational by the end of 2017.
comments powered by Disqus
Follow RTT