July 19, 2013
/PRNewswire/ -- International Paper (NYSE: IP) today announced that it has finalized the sale of its Temple-Inland Building Products division to Georgia-Pacific Building Products, LLC for
in cash, subject to customary closing adjustment. "We are pleased to have closed on this transaction and I would like to acknowledge and thank all the employees on the building products team for their continued dedication to their customers, safety and business results during this transition period," said
, Chairman and Chief Executive Officer. "We wish the group well in the years ahead."
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.
International Paper (NYSE: IP) is a global leader in packaging and paper with manufacturing operations in
. Its businesses include industrial and consumer packaging and uncoated papers, complemented by xpedx, the company's North American distribution company. Headquartered in
, the company employs approximately 70,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2012 were
. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.
SOURCE International Paper