Georgia-Pacific to Acquire Paper Mill

8/8/2007
Georgia-Pacific today announced that it has reached a definitive agreement with Smurfit-Stone Container Corp. to acquire its paper mill in Brewton, Ala., for $355 million. The transaction is expected to close by the end of September.
"Our company continues to make long-term, strategic investments in our businesses, and we are committed to growth - organically, through acquisitions and innovation," said Jim Hannan, GP president and chief operating officer. "Investments in our packaging business, such as this, are a key part of our strategy, and we continue to see opportunities for growth in each of GP's businesses."

"This mill is a valuable asset that fits strategically with GP's existing packaging segment operations," said Christian Fischer, executive vice president - packaging. "Specifically, it allows us to now make the white top linerboard we previously bought outside the company so we can better serve our existing and future customers."

The Brewton facility manufactures various types of paperboard products including kraft liner and white top linerboard, corrugating medium and bleached board for folding carton applications. It has an annual production capacity of approximately 300,000 tons of white top linerboard and 190,000 tons of solid bleached sulfate paperboard.

© 2007 Published by Corporate Communications

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