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GEORGIA-PACIFIC INTENDS TO SELL ENVELOPE MANUFACTURING BUSINESS

 ATLANTA, March 16 /PRNewswire/ -- Georgia-Pacific Corp. (NSYE: GP) today announced its intention to sell the company's envelope manufacturing business.
 The company expects to begin marketing the business in the near future. Georgia-Pacific conducts its envelope business through Mail- Well Envelope Co., a wholly owned subsidiary. The potential transaction would include 17 envelope manufacturing plants capable of producing 15 billion envelopes each year.
 Mail-Well Envelope Co. is one of the nation's largest envelope manufacturers and currently employs approximately 2,600 people.
 "We have evaluated these assets and determined it is not in the company's long-term best interest to continue to own them," A.D. "Pete" Correll, president and chief operating officer, said. "Although Mail- Well is an extremely well-managed company with experienced and motivated employees, envelope manufacturing is a highly specialized business, and one that is not strategic to Georgia-Pacific's core forest products business. We believe these excellent envelope manufacturing facilities would be more valuable to another company," Correll concluded.
 -0- 3/16/93
 /CONTACT: Sheila Weidman, 404-521-4732, or Corinne Dubois, 303-799-7406, both of Georgia-Pacific/
 (GP)


CO: Georgia-Pacific Corporation; Mail-Well Envelope Co. ST: Georgia IN: PAP SU:

RA-BN -- AT009 -- 6747 03/16/93 16:47 EST
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Publication:PR Newswire
Date:Mar 16, 1993
Words:195
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