GP – GRANT DEAL COMPLETE
Georgia-Pacific (GP) has completed the purchase of Grant Forest Products’ oriented strand board (OSB) mill at Englehart, Ont., an associated facility at Earlton, Ont. and OSB plants at Allendale and Clarendon, S.C.
Atlanta, Georgia-based GP paid approximately US$400 million for the plants. The acquisition was first announced in January of this year.
“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.”
GP said the process for the acquisition has involved a series of governmental approvals on both sides of the U.S. and Canadian border, including, “the Canadian court overseeing the Grant Forest Products Companies’ Creditors Agreement Act filing, the Canadian Competition Bureau, the United States Federal Trade Commission (FTC), Investment Canada, and the U.S. Bankruptcy Court in Delaware.”
Georgia-Pacific produces a number of OSB products including sheathing and sub-floor products. The company says it will be able to offer many additional products made at the newly acquired facilities, including larger panels.
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