Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

International Paper Finalizes Sale Of Temple-Inland Building Products Unit

RELATED NEWS
Trade IP now with 

International Paper (IP: Quote) 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.

Click here to receive FREE breaking news email alerts for International Paper and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Following the long, holiday weekend, stocks may move to the upside in early trading on Tuesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 15 points. The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction. Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter. Policymakers of Reserve Bank of Australia decided to maintain its record low interest rate once again as they continue to assess that the most prudent course is a period of stability in interest rates. The monetary policy board retained the cash rate at 2.50 percent. The rate has been at the current level since August 2013.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.