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Georgia-Pacific Completes Acquisition of OSB Facilities From Grant Forest Products
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Atlanta, Georgia, USA, 26 May 2010 -- /PRNewswire/ -- Georgia-Pacific today announced that is has completed the purchase of Grant Forest Products' oriented strand board (OSB) facilities at Allendale and Clarendon, South Carolina, as well as the facility at Englehart, Ontario, Canada, and the associated facility at Earlton, Ontario. The acquisition, first announced in January, totaled approximately USD 400 million.

"This acquisition represents a long-term, strategic investment by Georgia-Pacific, which will add value to our customers and our existing operations in Canada and the United States," said Mark Luetters, president - Georgia-Pacific Wood Products. "Georgia-Pacific is committed to working closely with employees, customers and suppliers as well as local government and business to ensure that the transition is as smooth and seamless as possible."

The process for the acquisition has involved a series of governmental approvals in the United States and Canada border. These have included the Canadian court overseeing the Grant Forest Products Companies' Creditors Agreement Act filing, the Canadian Competition Bureau, the United States Federal Trade Commission, Investment Canada, and the U.S. Bankruptcy Court in Delaware.

Georgia-Pacific currently has seven facilities operating in South Carolina and a wood and fiber supply office at Prosperity. In the state, Georgia-Pacific manufactures Dixie-brand products, corrugated packaging, thermosetting resins, and building products.

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 more than 40,000 people at more than 300 locations in North America, South America, and Europe. Georgia-Pacific creates long-term value by using resources efficiently to provide innovative products and solutions that meet the needs of customers and society, while operating in a manner that is environmentally and socially responsible and economically sound. The company has long been among the nation's leading manufacturers and suppliers of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers. For more information, visit www.gp.com.

 


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