PERRY, Fla. (WTXL) -- A major employer in Taylor County will soon come under new ownership.
Buckeye Technologies Incorporated, parent company of Perry's paper mill, announced in a joint statement Wednesday that they are being acquired by Georgia-Pacific.
Atlanta-based Georgia Pacific is reportedly spending $1.5 billion to purchase common stock and debt for Buckeye Technologies. The Memphis-Tennessee based company is a manufacturer of specialty fibers and nonwoven materials. They operate a number of mills including a specialty pulp mill in Perry.
According to their website, the Perry paper mill employs 700 people and creates an addition 1,000 jobs for loggers, suppliers and other services.
"Buckeye Technologies' competitive assets and capabilities strongly complement Georgia-Pacific's existing cellulose business and products. The talented employees, innovation capabilities, advanced technologies, and specialty fibers and nonwovens businesses of Buckeye Technologies will provide a significant platform for continued growth and success," said Jim Hannan, CEO and president, Georgia-Pacific.
Karen Cole, a spokeswoman with Georgia-Pacific says the deal still needs regulatory approval. Cole adds they do not expect to any changes in the operations or staffing.