Temple-Inland acquires Caraustar's interest in Standard Gypsum.* Temple-Inland, Austin, Texas, has acquired the interests of Caraustar Industries Inc., in Standard Gypsum gypsum (jĭp`səm), mineral composed of calcium sulfate (calcium, sulfur, and oxygen) with two molecules of water, CaSO4·2H2O. It is the most common sulfate mineral, occurring in many places in a variety of forms. LP. Standard Gypsum, which consists of gypsum wallboard facilities in McQueeney, Texas McQueeney is a census-designated place (CDP) in Guadalupe County, Texas, United States. The population was 2,527 at the 2000 census. History German settlers first moved to the area around 1870. , and Cumberland City, Tenn., had been a joint venture between Temple-Inland and Caraustar. The purchase price for Caraustar's interest was $150 million, according to a press release from Temple-Inland. For the first nine months of 2005, Standard Gypsum generated revenue exceeding $140 million and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $47 million. In announcing the transaction, Kenneth M. Jastrow II, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Temple-Inland says, "We are pleased with this acquisition, as these operations are low cost and located near some of the fastest growing markets in the South. Our gypsum business, including these facilities, has generated very good earnings and returns for Temple-Inland shareholders." Temple-Inland Inc. is a manufacturer of corrugated cor·ru·gate v. cor·ru·gat·ed, cor·ru·gat·ing, cor·ru·gates v.tr. To shape into folds or parallel and alternating ridges and grooves. v.intr. packaging and forest products. More information is available at www.templeinland.com. |
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