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Thursday, December 13, 2012

International Paper to sell Temple-Inland building products business, (NYSE: IP)

International Paper Co said it will sell its Temple-Inland building products business to Georgia-Pacific LLC for $750 million in cash. The assets to be sold include 16 manufacturing facilities, located primarily in southeastern and eastern United States.

International Paper Company (International Paper) is a global paper and packaging company, with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Shares of IP remained unchanged at $37.38. In the past year, the shares have traded as low as $27.26 and as high as $38.42. On average, 3994630 shares of IP exchange hands on a given day and today's volume is recorded at 2615.