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GEORGIA-PACIFIC ENTERS AGREEMENT IN PRINCIPLE TO SELL BELLINGHAM LIGNOSULFONATE AND ALCOHOL PLANTS

 GEORGIA-PACIFIC ENTERS AGREEMENT IN PRINCIPLE TO SELL
 BELLINGHAM LIGNOSULFONATE AND ALCOHOL PLANTS
 ATLANTA, Oct. 9 /PRNewswire/ -- Georgia-Pacific Corp. (NYSE: GP) today announced that it has reached an agreement in principle with Borregaard Industries Limited, a Norwegian company, for Borregaard to purchase Georgia-Pacific's lignosulfonate and alcohol processing operations at Bellingham, Wash.
 Georgia-Pacific expects to receive approximately $41 million from the sale.
 Georgia-Pacific recovers lignosulfonate and ethyl alcohol from the pulping process at its Bellingham pulp and paper mill, while the processing of lignosulfonate is a primary business of Borregaard. Following the sale, Georgia-Pacific will continue to own and operate the pulp and paper mill and to supply by-products from the mill to Borregaard at the Bellingham facility. Both companies expect the lignosulfonate and alcohol operations at Bellingham to continue on a "business as usual" basis.
 The transaction is subject to various conditions, including negotiation of a definitive agreement, receipt of antitrust and other necessary government approvals and authorization by both companies' boards of directors.
 -0- 10/9/92 R
 /CONTACT: Sheila Weidman, 404-521-4732, Dave Odgers, 503-248-7335, or Orman Darby, 206-676-7205, all of Georgia-Pacific/
 (GP) CO: Georgia-Pacific Corp.; Borregaard Industries Limited ST: Washington IN: PAP SU:


EA -- AT001 -- 8281 10/09/92 10:48 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
Words:203
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