Front Porch Blog

IP announces plans to sell lumber mills

[ Tennessee ] International Paper is selling 13 lumber mills to West Fraser Timber Co. Ltd. for about $325 million in cash. The transaction is expected to close in the first quarter of 2007. The companies do not expect any net loss of jobs, as West Fraser has said it plans to headquarter its U.S. operations in Memphis, according to an International Paper release. The transaction includes mills in Citronelle, Maplesville and Opelika, Ala.; McDavid and Whitehouse, Fla.; Augusta and Folkston, Ga.; Armour and Seaboard, N.C.; Newberry, S.C.; and New Boston and Henderson, Texas. The mill employ about 2,200 people and have a combined production capacity of about 1.8 billion board feet.

News notes are courtesy of Southern Forests Network News Notes





Leave a comment

Your email address will not be published. Required fields are marked *

Leave a Comment