Georgia-Pacific Negotiating to Sell Assets: The debt-laden...
From Times Staff and Wire Reports
Georgia-Pacific Negotiating to Sell Assets: The debt-laden Atlanta-based firm said it was negotiating to sell mills, plants and timberland for $740 million to Packaging Corp. of America, a subsidiary of Tenneco Inc. of Houston. Packaging Corp., based in Evanston, Ill., wants to buy two container-board mills, 19 box converting plants and about 540,000 acres of timberland from Georgia-Pacific. Georgia-Pacific also said it was continuing discussions on the possible sale of its liner board and paper mill in Toledo, Ore., and box plants in Modesto and Olympia, Wash.
