G-P Selling Unisource Stake

Georgia-Pacific's 40 percent interest will be held by CP&P Inc., the company's subsidiary formed to hold its consumer products, packaging, and pulp and paper businesses.

"After thorough review and consideration of our alternatives, our decision to sell a controlling interest in Unisource is based on two strategic factors," says A.D. "Pete" Correll, chairman and CEO, Georgia-Pacific. "First, the value of the original synergies in the combination of Unisource and our uncoated paper manufacturing business was realized in our sale last year of the majority of those assets to Domtar Inc. And, second, since that divestiture, Unisource would have limited strategic fit with either our consumer products and packaging businesses or our building products and distribution businesses once separation of our company occurs."