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Caraustar and Georgia-Pacific Settle Contract Dispute

Wednesday, April 10, 2002

Press release from the issuing company

ATLANTA, April 9 -- Caraustar Industries and Georgia-Pacific Corp. jointly announced a final settlement in the legal dispute over terms of a paper supply agreement, which was the subject of litigation between the two companies. Caraustar and G-P Gypsum, a wholly-owned subsidiary of Georgia- Pacific, have resolved the dispute by entering into a new five-year agreement which provides that Caraustar will produce and sell to G-P Gypsum between 0.378 and 0.756 billion square feet of paper per year to be used in G-P Gypsum's ToughRock wallboard. A tentative settlement was announced last year, but a final settlement had been deferred due to G-P wallboard plant closings and the possible sale of G-P's building products unit. Caraustar, a recycled packaging company, is one of the largest and lowest- cost manufacturers and converters of recycled paperboard and recycled packaging products in the United States. The company has developed its leadership position in the industry through diversification and integration from raw materials to finished products. Caraustar is the only major packaging company that serves the four principal recycled paperboard product markets: tubes, cores and cans; folding carton and custom packaging; gypsum wallboard facing paper; and miscellaneous "other specialty" and converted products. One of the largest producers of gypsum products in North America, G-P Gypsum has 30 facilities and 2,100 employees in the United States and Canada. Headquartered in Atlanta, Georgia-Pacific is one of the world's leading manufacturers and distributors of tissue, pulp, paper, packaging, building products and related chemicals.

 

 

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