Temple-Inland Acquires Caraustar’s Interest in Standard Gypsum

Temple-Inland, Austin, Texas, has acquired the interests of Caraustar Industries Inc., in Standard Gypsum LP.

Standard Gypsum, which consists of gypsum wallboard facilities in McQueeney, Texas, 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 revenues exceeding $140 million and operating income of $47 million.

In announcing the transaction, Kenneth M. Jastrow II, chairman and CEO 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 packaging and forest products. More information is available at www.templeinland.com.