Georgia-Pacific to Sell Engineered Lumber Business To Boise Cascade

Georgia-Pacific to Sell Engineered Lumber Business To Boise Cascade

Georgia-Pacific LLC announced today that it has reached an agreement to sell its engineered lumber business to Boise Cascade for $215 million, including working capital. The transaction is subject to standard regulatory review and other customary closing conditions.

“Georgia-Pacific is firmly committed to the building products industry. Although the engineered lumber business has been profitable and employees have done a great job running safe, productive assets and meeting our customers’ needs, it is not a large part of our overall building products division,” said Mark Luetters, Georgia-Pacific executive vice president–building products. “We believe this potential sale to an established player in the industry is in the best interest of our engineered lumber employees, customers and stakeholders.”

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Once completed, the sale will include the engineered lumber operations located at Thorsby, Alabama, (approximately 230 employees) and Roxboro, North Carolina, (approximately 40 employees), along with a commercial sales and technical team.

Source: Georgia-Pacific