Buckeye Technologies is now part of Georgia-Pacific (G-P). G-P has finalised the takeover of the celulose-based specialty products manufacturer for an amount of $1.5bn.
Georgia-Pacific has completed the takeover of Buckeye Technologies announced in April this year. The two companies said G-P had acquired all of Buckeye's outstanding shares for $37.50 per share. The total transaction value was put at $1.5bn.
Buckeye Technologies, based in Memphis, Tennessee, USA, is one of the major producers and marketers of specialty fibres and nonwoven materials made from wood and cotton. Its product lines can be broadly grouped into the four categories chemical cellulose, customized fibres, fluff pulp and nonwovens.
The company's manufacturing assets include a specialty pulp mill in Florida, two cotton cellulose mills in Tennessee and North Carolina as well as two mills producing nonwovens in North Carolina and in Germany. In addition, the company has sales offices in Beijing, the UK, France, Italy and Switzerland. Buckeye has approximately 1,200 employees worldwide.