US: Georgia-Pacific has announced that it has reached an agreement to acquire the assets of the Temple-Inland Building Products business from International Paper. The purchase price is US$750m and the transaction is subject to regulatory approvals. The acquisition is anticipated to close in the first quarter of 2013.
As part of the transaction International Paper will sell 16 production facilities including four gypsum wallboard facilities, five solid wood mills, four particleboard plants, two medium-density fibreboard plants and one fibreboard factory. The sites are located across eight US states, mainly in the southeastern and eastern parts of the country.
"These high-quality assets with teams of talented employees are strategically located near large, growing regions of building products customers and will fit well into our existing operations," said Jim Hannan, Georgia-Pacific chief executive officer and president. "This will allow us to expand our geographic footprint and enhance our service to new and existing customers."
