Boise Cascade Company has received antitrust clearance from the United States Department of Justice to proceed with its previously announced acquisition of Georgia-Pacific LLC`s engineered lumber production facilities located at Thorsby, Alabama and Roxboro, North Carolina. The company plans to complete the acquisition by the end of this month.
Back in December 2015, Georgia-Pacific has agreed to sell its engineered lumber business to Boise Cascade for $215 million, including working capital.
Mark Luetters, Georgia-Pacific's executive vice president – building products commented on the transaction: "Georgia-Pacific is firmly committed to the building products industry. Although the engineered lumber business has been profitable and employees have done a great job running safe, productive assets and meeting our customers' needs, it is not a large part of our overall building products division."
"We believe this potential sale to an established player in the industry is in the best interest of our engineered lumber employees, customers and stakeholders," he added.
Once completed, the sale will include the approximately 270 employees from the two facilities in Thorsby and Roxboro, along with a commercial sales and technical team.
Georgia-Pacific and its subsidiaries are among the world's leading manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, office papers, cellulose, specialty fibers, nonwoven fabrics, building products and related chemicals.
Boise Cascade is one of the largest producers of plywood and engineered wood products in North America and a leading U.S. wholesale distributor of building products.
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