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Georgia-Pacific gets Canadian approval for Grant Forest facilities

Thursday, April 01, 2010

Press release from the issuing company

Atlanta - Georgia-Pacific learned today that the Canadian court overseeing the Grant Forest Products Companies' Creditors Arrangement Act case has approved Georgia-Pacific's acquisition of Grant's oriented strand board (OSB) facility at Englehart, Ontario, the associated facility at Earlton, Ontario, and OSB facilities at Allendale and Clarendon, S.C.  In February, Georgia-Pacific received a letter from the Canadian Competition Bureau indicating that it had completed its review of the transaction and has found no competitive risk, and last week the deal cleared United States Federal Trade Commission (FTC) antitrust review.

"These assets are a strong strategic fit with our existing facilities, and we're excited that we are moving further toward completion of this important acquisition," said Mark Luetters, president - Georgia-Pacific Wood Products.  "These are world-class operations that will expand and enhance our market presence and product offerings to better serve new and existing customers.  We plan significant investments in the U.S. and Canadian plants to build on the proud tradition of these facilities and the employees who operate them."

The transaction is expected to close in the first half of 2010, following Investment Canada and U.S. bankruptcy court approval.




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