IP official: Diboll plant likely to sell

DIBOLL, TX (KTRE) - With the merger between International Paper and Temple-Inland complete, the new company will likely sell the Diboll plant, according to a company official.

International Paper spokesman Tom Ryan explained that Temple-Inland's building products business is "very good," but not part of the company's strategy.

"So we'll be looking at strategic options for that business, which likely is selling those assets," Ryan said. "We're encourage though that with the improving housing market we should positively impact the selling of that business."

International Paper announced Monday that it has completed its acquisition of Temple-Inland through the merger of its wholly owned subsidiary Metal Acquisition Inc. with and into Temple-Inland. Temple-Inland is now a wholly owned subsidiary of International Paper.

Officials estimated the purchase to be valued around $4.5 billion.

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