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Article: Temple-Inland Acquires Caraustar's Interest in Premier Boxboard Limited Joint Venture.
- Article from:
- Business Wire
- Article date:
- July 25, 2008
CopyrightCOPYRIGHT 2008 Business Wire. 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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AUSTIN, Texas -- Temple-Inland Inc. (NYSE:TIN) announced today that it has acquired the remaining fifty percent interest in Premier Boxboard Limited LLC (PBL) from Caraustar Industries, Inc. (NASDAQ:CSAR). PBL was a joint venture between Temple-Inland and Caraustar. The purchase price for Caraustar's interest was $62 million in cash and assumption of $25 million of debt associated with the purchased interest.
PBL produces lightweight gypsum facing paper and containerboard at a 308,000 tons per year mill in Newport, Indiana. Temple-Inland will continue to produce lightweight gypsum facing paper and containerboard at the mill. The lightweight gypsum facing paper ...