ATLANTA, July 19, 2013 /PRNewswire/ -- Georgia-Pacific today announced it has completed the acquisition of the Temple-Inland Building Products assets from International Paper Co. after receiving clearance from the Department of Justice under the Hart-Scott-Rodino merger review process. The purchase price was $710 million.
"With the sale final, we are eager to combine our assets into one building products business," said Mark Luetters, executive vice president – building products. "Temple-Inland brings high-quality assets with teams of talented employees, and we look forward to combining best practices so that we will continue to improve our ability to serve key customers. We highly value our employees and the communities where we operate, and we are committed to a smooth transition."
The acquisition includes 15 U.S. facilities with more than 1,800 employees across eight states, including Alabama, Arkansas, Georgia, Louisiana, Oklahoma, Pennsylvania, Tennessee and Texas. Teams at these facilities manufacture the following building products: fiberboard, gypsum products, lumber, medium density fiberboard (MDF) and particleboard.
Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of building products, tissue, packaging, paper, cellulose and related chemicals. The company employs approximately 35,000 people worldwide. For more information, visit www.gp.com.