Atlanta, Georgia, USA, 02 June 2010 -- Georgia-Pacific today announced that it 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. We look forward to hitting the ground running and maximizing the potential of these facilities.”
Georgia-Pacific OSB products include sheathing and sub-floor, OSB radiant barrier sheathing, enhanced OSB sub-floor, and wall sheathing with preapplied house wrap. The company also will offer many of the additional products made at the new facilities, including larger panels.
The process for the acquisition has involved a series of governmental approvals on both sides of the U.S.and Canadian 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 kitchen and table 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.