Georgia-Pacific today announced that it has completed the purchase of Grant Forest Products' oriented strand board (OSB) facilities at Allendale and Clarendon, S.C., as well as the facility at Englehart, Ontario, and the associated facility at Earlton, Ontario. The acquisition, first announced in January, totaled approximately $400 million.
"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."
Georgia-Pacific OSB products include BlueRibbon® rated sheathing and sub-floor, Thermostat® OSB radiant barrier sheathing, DryGuard® enhanced OSB sub-floor and Nautilus® wall sheathing with pre-applied house wrap. The company also will offer many of the additional products made at the new facilities, including larger panels.
The process for the acquisition has involved a series of governmental approvals on both sides of the U.S. and Canadian border. These have included the Canadian court overseeing the Grant Forest Products Companies' Creditors Agreement Act filing, the Canadian Competition Bureau, the United States Federal Trade Commission, Investment Canada and the U.S. Bankruptcy Court in Delaware.
Georgia-Pacific currently has seven facilities operating in South Carolina as well as a wood and fiber supply office at Prosperity. In the state, Georgia-Pacific manufactures Dixie® products, corrugated packaging, thermosetting resins and building products.
Source: http://www.gp.com/