Georgia-Pacific to Invest $500 Million at its Port Hudson and Crossett Mills
Oct. 21, 2010 - Georgia-Pacific said that its mills in Port Hudson, Louisiana, and Crossett, Arkansas, have been selected as the locations for the company's previously announced more than $500 million investments in advanced, proprietary tissue-papermaking technology.
The investments will allow each site will use the advanced technology to upgrade one of its existing paper machines and will install associated converting equipment, GP said.
Engineering and related work is beginning immediately.
According to GP, both projects will modernize the mills, improving their long-term competitiveness and helping to preserve existing jobs. The mills currently have approximately 2,300 employees.
"These projects are a portion of the approximately $12 billion Georgia-Pacific and other Koch companies have invested in our businesses during the last five years — even during difficult economic conditions," said Jim Hannan, Georgia-Pacific's CEO and president.
"Koch companies have historically invested 90 percent or more of their earnings back into their businesses so that they can continue to grow, meet customer needs and create value for society," Hannan added.
GP said the proprietary technology meets consumers' demanding needs for premium qualities in tissue products — including softness and absorbency — while reducing combinations of fiber use, energy use or water use versus alternative papermaking processes.
Start up of the upgraded and new equipment is scheduled for 2012.
Headquartered at Atlanta, Georgia-Pacific is one of the world's leading manufacturers and marketers of building products, tissue, packaging, paper, cellulose and related chemicals. The company employs more than 40,000 people at approximately 300 locations in North America, South America and Europe.