LYCOS RETRIEVER 
Georgia Pacific: Georgia-Pacific
built 277 days ago
By the time that Correll succeeded Hahn as Georgia-Pacific's chairman and CEO during 1993, the company's financial outlook began to look brighter. Housing starts were on the rise again, and lumber production remained far below demand. Lumber prices began rising to record highs in October 1993. Georgia-Pacific had grown to become the largest supplier of building lumber in the United States and was perfectly poised to benefit from improvements in the economy. The pulp and paper market, meanwhile, began a strong recovery in 1994, enabling the company to return to profitability after two years in the red. The improving conditions led the firm during 1994 to launch a two-year, $1.75 billion capital improvement program, focusing primarily on expanding its strongly performing engineered wood products operations.
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Georgia-Pacific has been battling asbestos litigation for years. It recently reported to the Securities and Exchange Commission that the number of asbestos claims filed against it continued to decline in 2004, even as the amount of money it paid on claims hit the $200 million mark. At the end of 2004, there were 59,700 pending claims, down from 64,300 at the end of 2003. During 2004, 26,500 new claims were filed against the company, down from 39,000 new claims filed in 2003.
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Georgia-Pacific Wood Products South LLC has purchased the Thorsby, Alabama, engineered lumber plant from International Paper. Georgia-Pacific, which owns two engineered lumber facilities in Roxboro, N.C. and Ocala, Florida, expects to complete its acquisition of an additional seven International Paper facilities by the end of March. Engineered lumber is used in construction applications such as floor and roof systems. High-grade wood fiber is the basis of this virtually defect-free product that is capable of supporting heavy loads over long spans such as those found in large open spaces and high ceilings. Headquartered in Atlanta, Georgia-Pacific manufactures and markets building products, tissue, packaging, paper, cellulose, and related chemicals.
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During the 1960s, Georgia-Pacific embarked upon another series of acquisitions by buying several lumber and paper companies across the country. These included Crossett Lumber Company (Crossett, Arkansas) in 1962; Puget Sound Pulp and Timber Company (Bellingham, Washington), Vanity Fair Paper Mills (Plattsburgh, New York), St. Croix Paper Company (Woodland, Maine), and Fordyce Lumber Company (Fordyce, Arkansas) in 1963; Bestwall Gypsum Company (Paoli, Pennsylvania) in 1965; and Kalamazoo Paper Company (Kalamazoo, Michigan) in 1967. With the purchases of Puget Sound Pulp and Timber and Vanity Fair Paper, Georgia-Pacific entered the tissue business. After building its first corrugated-container plant in Olympia in 1961, the company added a series of additional manufacturing facilities for lumber, paper, and chemical products over the course of the rest of the decade.
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Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of tissue, packaging, paper, building products and related chemicals. With 2004 annual sales of $20 billion, the company employs approximately 55,000 people at more than 300 locations in North America and Europe. Its familiar consumer tissue brands include Quilted Northern(R), Angel Soft(R), Brawny(R), Sparkle(R), Soft 'n Gentle(R), Mardi Gras(R), So-Dri(R), and Vanity Fair(R), as well as the Dixie(R) brand of disposable cups, plates and cutlery. Georgia-Pacific's building products manufacturing business has long been among the nations leading suppliers of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers. For more information, visit http://www.gp.com/.
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DensArmor(R) paperless drywall from Georgia-Pacific Gypsum is a new generation paperless drywall designed as a replacement for traditional paper- faced drywall for residential interiors. Mold can develop when the combination of the right temperature, mold spores, moisture and a food source are present. Paper can be a food source, so substituting the glass-mat facings on DensArmor(R) for the paper facings found on traditional drywall removes a potential food source for mold.
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