G-P to Sell Engineered Lumber Business to Boise Cascade
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Georgia-Pacific LLC, Atlanta, Ga., USA, reports that it has reached an agreement to sell its engineered lumber business to Boise Cascade, Boise, Idaho, for $215 million, including working capital. The transaction is subject to standard regulatory review and other customary closing conditions.
"Georgia-Pacific is firmly committed to the building products industry. Although the engineered lumber business has been profitable and employees have done a great job running safe, productive assets and meeting our customers' needs, it is not a large part of our overall building products division," said Mark Luetters, Georgia-Pacific EVP– building products. "We believe this potential sale to an established player in the industry is in the best interest of our engineered lumber employees, customers, and stakeholders."
Once completed, the sale will include the engineered lumber operations located at Thorsby, Ala., (approximately 230 employees) and Roxboro, N.C. (approximately 40 employees), along with a commercial sales and technical team.
Georgia-Pacific and its subsidiaries are global manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, office papers, cellulose, specialty fibers, nonwoven fabrics, building products, and related chemicals. The company employs nearly 35,000 people worldwide.
