BREAKING NEWS: Georgia-Pacific to buy Brewton mill
Published 5:27 am Wednesday, August 8, 2007
Smurfit-Stone Container Corp. announced on its Web site Wednesday that it has reached an agreement to sell the Brewton mill to Georgia-Pacific LLC for $355 million.
The companies expect the deal to be final by the end of September.
The Brewton mill has annual production capacity of about 300,000 tons of white top linerboard and 190,000 tons of solid bleached sulfate.
"Georgia-Pacific continues to make long-term, strategic investments in our businesses, and we are committed to growth – organically, though acquisitions and innovation," said James Hannan, Georgia-Pacific president and chief operating office. "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 Georgia-Pacific's businesses."
For more on the pending sale, see Sunday's edition of The Brewton Standard.