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Article: IP selling 13 plants, including mill in Leola.(FORESTRY)
- Article from:
- Arkansas Business
- Article date:
- December 4, 2006
- Author:
CopyrightCOPYRIGHT 2006 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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International Paper Co. of Memphis is selling 13 lumber mills, including its mill in Leola, to West Fraser Timber Co. Ltd. of Vancouver, B.C., for about $325 million.
The Leola mill employs about 200 workers. West Fraser entered Arkansas in 2000 with the purchase of a mill at Huttig from Plum Creek Timber Co.
The deal is expected to close in the first quarter of 2007, subject to various closing conditions and regulatory approval.
Other mills included in the sale are in Citronelle, Maplesville and Opelika, Ala.; McDavid and Whitehouse, Fla.; Augusta and Folkston, Ga.; Armour and Seaboard, N.C.; ...