ATLANTA -- Georgia-Pacific, a producer of wood panels for the building and construction industry, announced that it plans to sell its engineered lumber business to Boise Cascade for $215 million. The sale would effect approximately 270 employees in Alabama and North Carolina.

"Georgia-Pacific is firmly committed to the building products industry," said Mark Luetters, Georgia-Pacific executive vice president – building products. "Although the engineered lumber business has been profitable and employees have done a great job running safe, productive assets and meeting our customers' needs, it is not a large part of our overall building products division. We believe this potential sale to an established player in the industry is in the best interest of our engineered lumber employees, customers and stakeholders."

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In October, Georgia-Pacific closed its engineered wood products plant in Phillips, WI, eliminating approximately 53 jobs. A spokesman for the company told local media at the time that the closure was a result of declining demand for wood products manufactured by the facility.

Once completed, the sale will include the engineered lumber operations located at Thorsby, Alabama, (approximately 230 employees) and Roxboro, North Carolina, (approximately 40 employees), along with a commercial sales and technical team.

Georgia-Pacific and its subsidiaries employ nearly 35,000 people worldwide.