U.S. (Notifix).- Georgia-Pacific Building Products (GP) has announced it completed the acquisition of Temple-Inland Building Products, a division of International Paper Co., for USD 710 million in cash. 

The division's assets include 15 manufacturing facilities across eight states: Alabama, Arkansas, Georgia, Louisiana, Oklahoma, Pennsylvania, Tennessee and Texas. These facilities include four particleboard plants, one MDF plant and one fiberboard plant. 

In an announcement to the press GP explained why this is a great time to add to their business, “At Georgia-Pacific, we take a long-term view on investment. As the housing industry continues its slow recovery, we want to ensure our ability to grow with our customers’ needs. This investment will create value for our company and the communities where we operate by allowing us to reach new customers and serve existing customers even better.” With the acquisition GP adds more than 1,800 employees to its existing 35,000 workforce.