All sales final;Temple-Inland now officially Georgia Pacific
Georgia-Pacific completed the acquisition of the Temple-Inland Building Products assets from International Paper Co. last week, after receiving clearance from the Department of Justice under the Hart-Scott-Rodino merger review process. The purchase price was $710 million.
“With the sale final, we are eager to combine our assets into one building products business,” said Mark Luetters, executive vice president of Building Products. “Temple-Inland brings high-quality assets with teams of talented employees, and we look forward to combining best practices so that we will continue to improve our ability to serve key customers. We highly value our employees and the communities where we operate, and we are committed to a smooth transition.”
The acquisition includes 15 U.S. facilities – including those in Diboll — with more than 1,800 employees across eight states, including Alabama, Arkansas, Georgia, Louisiana, Oklahoma, Pennsylvania, Tennessee and Texas. Teams at these facilities manufacture the following building products: fiberboard, gypsum products, lumber, medium density fiberboard (MDF) and particleboard.
Like many in Diboll, Diboll Mayor John McClain expressed nostalgia and optimism.
“This purchase represents an end of an era,” said McClain, a Temple-Inland retiree. “Temple-Inland was a company that cared for its employees and the communities in which it operated. After working for them for over 40 years it is especially sad for me. However with that said, the deal is done and as mayor I plan to work with Georgia-Pacific and wish them success in managing this acquisition. It is important to the employees that all goes well in the transition and in the future. From the city’s perspective we will do all we can to assist GP. Their success is important for the city and the citizens of Diboll.”
Georgia Pacific donated the Temple-Inland flag that flew at the Diboll corporate headquarters to The History Center on Thursday, Temple-Inland’s final day.
“It’s symbolic of the last vestige of the Temple business name here,” said Jonathan Gerland, The History Center’s director.
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 approximately 35,000 people worldwide. For more information, visit www.gp.com.