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ALCO STANDARD AGREES TO PURCHASE PAPER DISTRIBUTION BUSINESS OF GEORGIA-PACIFIC

 VALLEY FORGE, Pa., March 15 /PRNewswire/ -- Alco Standard Corporation (NYSE: ASN) today announced that it had entered into an agreement in principle to acquire Butler Paper Company, the paper distribution business of Georgia-Pacific Corporation (NYSE: GP), for an undisclosed amount of cash.
 The agreement is subject to due diligence, regulatory review and board approval by the two companies. An early summer closing is anticipated.
 Butler Paper, with $1 billion in annual revenues, has 80 locations throughout the United States. Approximately 90 percent of the company's business is in the sale of printing paper.
 "Butler Paper is a fine organization, with outstanding growth potential," said Ray B. Mundt, Alco Standard chairman and chief executive officer, "and will become an important part of our strategic goal of becoming the world leader in paper distribution and setting the standard of competition in our industry."
 Alco Standard's largest operating group, Paper Corporation of America, distributes printing paper and industrial products throughout North America. With annual revenues of $4.5 billion, PCA has 330 locations in the United States and Canada.
 Butler Paper will continue under its existing management team and will report to Richard C. Gozon, Alco Standard's president and chief operating officer.
 According to Gozon: "There are no immediate plans to integrate Butler Paper with Paper Corporation of America. Our initial objective is to complete a smooth transition with no disruption in Butler's relationships with customers, employees and suppliers."
 Alco Standard Corporation, headquartered in Valley Forge, is a publicly owned paper and office products distribution company. For its fiscal year ended Sept. 30, 1992, revenues were $4.9 billion.
 /delval/
 -0- 3/15/93
 /CONTACT: David B. Kirkland of Alco Standard, 215-296-8000, or at home, 215-542-9025/
 (ASN GP)


CO: Alco Standard Corporation; Butler Paper Company; Georgia-Pacific
 Corporation ST: Pennsylvania, Georgia IN: PAP SU: TNM


CC-MP -- PH009 -- 8786 03/15/93 14:37 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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