Deltic Timber Corporation has agreed to purchase the 50 percent membership interest of Del-Tin Fiber LLC, a manufacturer of MDF, which came into the possession of International Paper when it purchased Temple-Inland last February for $20 million.

Deltic Timber Corporation (NYSE:DEL) has entered into an agreement to purchase the 50 percent membership interest in Del-Tin Fiber, LLC currently owned by TIN, Inc., a wholly owned subsidiary of Temple-Inland Inc., a wholly owned subsidiary of International Paper Company, for a purchase price of $20 million.

International Paper will sell its Temple-Inland Building Products division to Georgia-Pacific LLC for $750 million in cash. The transaction is expected to be completed in the first quarter of 2013.

AUSTIN, TX - Temple-Inland Inc. reported net income for full year 2009 of $206 million compared with a net loss of $8 million in 2008. Doyle R. Simons, chairman and CEO of Temple-Inland, said, “We delivered strong operating results and cash flow in 2009 despite tough economic conditions. Cash from operations was $640 million. We reduced debt by $482 million for the year."