Georgia-Pacific was founded by Owen Robertson Cheatham on the 22nd of September 1927 in Augusta, Georgia, as the Georgia Hardwood Lumber Co. Cheatham started the business through the acquisition of a wholesale hardwood lumber yard.
How much did Koch Industries pay to acquire Georgia-Pacific?
Koch Industries paid $21 billion to acquire Georgia-Pacific. The deal was announced on the 13th of November 2005 and finalized on the 23rd of December 2005, with shareholders receiving approximately $48 per share.
What is the Texas Two-Step maneuver Georgia-Pacific used for asbestos liabilities?
In November 2017, Georgia-Pacific used the Texas Two-Step to split into two corporate entities, placing all asbestos liabilities into a new subsidiary called Bestwall. Bestwall then relocated to North Carolina and filed for bankruptcy, pausing more than 64,000 personal injury claims.
What brand names does Georgia-Pacific own?
Georgia-Pacific owns Quilted Northern and Angel Soft (toilet paper), Brawny and Sparkle (paper towels), Vanity Fair (premium napkins), and Dixie tableware products, among others. Building product brands include ToughRock, DensGlass, and Wood I Beam.
What environmental controversies has Georgia-Pacific been involved in?
Georgia-Pacific has been involved in PCB cleanup at the Fox River in Wisconsin and the Kalamazoo River in Michigan. In 2007, the EPA required the company to fund an estimated $21 million in environmental remediation at the Plainwell Impoundment Area, with an additional $15 million settlement for the Kalamazoo River Superfund Site.
How many employees does Georgia-Pacific have and where does it operate?
As of fall 2019, Georgia-Pacific employed more than 35,000 people at more than 180 locations across North America, South America, and Europe. The company is headquartered in Atlanta, Georgia, in the Georgia-Pacific Tower.