memphisdailynews.com – Two years after Atlanta-based Georgia-Pacific acquired Memphis-based Buckeye Technologies in a $1.4 billion deal, the combined company, GP Cellulose, has invested $20 million in capital construction and maintenance projects at its Memphis facilities.
The Memphis operation, which is an indirect, wholly owned subsidiary, is one of the world’s largest cotton cellulose mills. It engineers cotton pulp that is used to make a variety of material from high-end stationary to pharmaceutical coatings. The pulp also is processed to thicken paints and some foods.
GP Cellulose employs 200 people, including research and development personnel, at the Memphis Cellulose Mill and the Cellulose Technology and Innovation Center, which is located at 1001 Tillman St. in the Binghampton neighborhood.
The company estimates it will have donated more than $1.5 million to local charities by the end of 2015. The total includes donating the old Buckeye Technologies headquarters building, at 1005 Tillman St., to United Way of the Mid-South.