Georgia-Pacific Completes USD 170 Million Insulair Acquisition
Atlanta, Georgia, USA, 26 July 2006 -- /PRNewswire/ -- Georgia-Pacific Corp. today announced the successful completion of its USD 170 million acquisition of Insulair, Inc., a privately held manufacturer of premium insulated paper cups and lids.
The deal was finalized today through the merger of its subsidiary, Fort James Operating Company, and Insulair, Inc. Georgia-Pacific will integrate the Insulair business and the Vernalis, Calif., facility into its Dixie(R) business.
"This acquisition is a strategic component of our ongoing North American Consumer Products growth plans, which includes our previously announced plans to install two through-air-dried tissue paper machines," said Michael C. Burandt, executive vice president - North American Consumer Products, Georgia- Pacific. "These investments should be a clear indication to our customers and consumers of Georgia-Pacific's commitment to our consumer products business."
Dixie president Sean Fallmann added, "We are significantly enhancing our position in the cup business with the completion of this acquisition and are excited to have the skilled and innovative employees at Insulair, Inc. become part of Georgia-Pacific."
Founded in 1996, Insulair introduced its innovative, patented, triple-wall insulated paper cup one year later. The technology used to make the Insulair(R) cup eliminates the need for polystyrene foam cups, cup sleeves or double cupping. The cups are sold domestically in all 50 states and exported to customers in more than 15 countries around the world.
Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of tissue, packaging, paper, pulp, and building products and related chemicals. The company employs approximately 55,000 people at more than 300 locations in North America, South America, and Europe. Georgia-Pacific's building products manufacturing business has long been among the nation's leading suppliers of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers. For more information, visit www.gp.com.