U.S. Federal Trade Commission Action Moves Georgia-Pacific One Step Closer to Acquisition of Certain Grant Forest Products Facilities

ATLANTA, March 26 /PRNewswire/ -- Late Wednesday, Georgia-Pacific moved one step closer to completing its acquisition of Grant Forest Products' oriented strand board (OSB) facility at Englehart, Ontario, the associated facility at Earlton, Ontario, and OSB facilities at Allendale and Clarendon, S.C.  Although Georgia-Pacific is still waiting for approval from the Canadian bankruptcy court overseeing Grant's Companies' Creditors Arrangement Act (CCAA) filing, it has now cleared the United States Federal Trade Commission's (FTC) antitrust review of the transaction.  Georgia-Pacific received a letter in February from the Canadian Competition Bureau that similarly stated it found no competitive risk in the acquisition.

Following anticipated U.S. and Canadian bankruptcy court approvals and other regulatory approvals, the transaction is expected to close in the first half of 2010.

Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of building products, tissue, packaging, paper, cellulose and related chemicals. The company employs more than 40,000 people at more than 300 locations in North America, South America and Europe. Georgia-Pacific creates long-term value by using resources efficiently to provide innovative products and solutions that meet the needs of customers and society, while operating in a manner that is environmentally and socially responsible and economically sound.  The company has long been among the nation's leading manufacturers and suppliers of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers, with brands such as Plytanium® plywood, DryPly® water repellent plywood, Ply-Bead® panels and Wood I Beam™ and XJ 85™ joists offered by Georgia-Pacific Wood Products LLC.  DensArmor Plus® interior panels, DensGlass® Sheathing and ToughRock® drywall are offered by Georgia-Pacific Gypsum LLC. The familiar consumer tissue brands of Georgia-Pacific Consumer Products LP include Quilted Northern®, Angel Soft®, Brawny®, Sparkle®, Soft 'n Gentle®, Mardi Gras®, So-Dri® and Vanity Fair®.  Dixie Consumer Products LLC, a Georgia-Pacific company, manufactures the Dixie® brand of tabletop products.   For more information, visit www.gp.com

SOURCE Georgia-Pacific