VOL. 127 | NO. 33 | Friday, February 17, 2012
International Paper Buys Mill From Temple-Inland
BOGALUSA, La. (AP) – International Paper Co. is now officially the fifth owner of a paper mill opened in Bogalusa in 1906.
Company spokesman Thomas Ryan tells The Daily News (Bogalusa, La.) that International Paper believes it has acquired excellent assets from Temple-Inland Inc., and the Bogalusa mill is one of them.
Temporary signs reading "International Paper" were put up over Temple-Inland signs on the box plant on Monday, the day the $3.7 billion purchase became final.
Three days earlier, IP had settled U.S. Department of Justice antitrust objections by agreeing to sell Temple-Inland mills in Ontario, Calif., and New Johnsonville, Tenn., and International Paper's Hueneme, Calif., facility.
A statement from the department said that, as originally proposed, the deal would have given the combined company about 37 percent of North American containerboard capacity.
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