G-P to Acquire Temple-Inland Building Products Assets from I-P
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Georgia-Pacific, Atlanta, Ga., USA, this week agreed to acquire the assets of Temple-Inland Building Products' business from International Paper Co. The purchase price is $750 million and the transaction is subject to regulatory approvals. The acquisition is anticipated to close in the first quarter of 2013.
"This acquisition is a long-term investment that will create value for our customers and our company," said Jim Hannan, G-P's CEO and president. "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. This will allow us to expand our geographic footprint and enhance our service to new and existing customers."
Temple-Inland manufactures a wide array of building products at 16 facilities in the U.S. These products include gypsum, lumber, fiberboard, medium density fiberboard (MDF), and particleboard.
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