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Georgia Pacific: Packaging
built 644 days ago
Georgia Pacific 46580 ( GEP46580 ): Nationally recognized soft, absorbent tissues create a good impression. Upscale box for a professional look. Tissue Type: N\A; Length: N\A; Width: N\A; Number of Plies: 2 .. GEP-46580 or GEP46580
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While the market was still surging, Correll launched a number of initiatives aimed at making Georgia-Pacific the most cost-efficient company in the industry. A major restructuring of the building products distribution operation, aiming at cutting costs and increasing sales, began in 1994. This led to the announcement in mid-1995 that 60 of Georgia-Pacific's 130 building products distribution centers would be closed by early 1997. Later in 1994 the company launched the Mill Improvement Program to cut costs and increase efficiency at the firm's 14 large pulp and paper mills. A little more than two years later, the mills had each identified cost savings of $20 million to $40 million per year. Finally, in mid-1995 the building products manufacturing operation launched Operation Complete, eventually identifying nearly $200 million in cost savings and productivity improvements at the 140 facilities of that company unit.
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Georgia-Pacific LLC purchased the containerboard mill in Brewton, AL, from Smurfit-Stone Container Corp. for $355 million, or about $414 per square foot. Smurfit-Stone announced it expects to take a pretax loss of $100 million on the sale.
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Georgia-Pacific LLC today announced that Georgia-Pacific Brewton LLC has completed the purchase of the Brewton, Ala., containerboard mill assets from Smurfit-Stone Container Corporation. The acquisition, announced in August, totaled approximately $355 million.
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In addition to Merrill, Banc of America Securities advised Georgia-Pacific in its acquisition of Fort James. Shearman & Sterling served as outside legal counsel. For Fort James, Morgan Stanley acted as adviser while Wachtell Lipton Rosen & Katz was outside counsel.
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Koch Executive VP-operations Bill Caffey moves to Georgia-Pacific as executive VP and a member of its board. Jim Mahoney assumes Caffey's responsibilities at Koch as VP-operations; he had been executive VP-operations for Flint Hills Resources.
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