This past week, another company announced that it is moving its company headquarters to Memphis. According to the Asheville Citizen-Times, Blue Ridge Paper Company will move its company headquarters to Memphis from the Asheville, North Carolina area.
http://citizen-times.com/apps/pbcs.dll/article?AID=200770827080
www.blueridgepaper.com
Based on the information that I have been able to learn, it looks like Blue Ridge Paper is being acquired by The Rank Group which owns a former unit of International Paper and that the new combined entity will be headquartered in Memphis and run under the name of Evergreen Packaging Group. The combined companies will own and operate plants that employ more than 1,000 people in nearby Pine Bluff, Arkansas and in Concord, North Carolina.
This announcement is especially good news because it means that many of the high paying executive level jobs that International Paper brought to Memphis twenty years ago will stay in Memphis even as International Paper transforms its business and divests itself of a number of subsidiaries. For example, earlier this year, West Frazier, a successful and large Canadian forestry and sawmill business, purchased a large portion of International Paper's forest lands and sawmill divisions. Rather than relocate those jobs elsewhere, West Frazier chose to locate its United States corporate headquarters here in Memphis. With the move of Blue Ridge Paper to Memphis and the merger into Evergreen, the trend continues of companies choosing Memphis as their headquarters and the trend continues of keeping those valuable International Paper jobs here in Memphis.
Welcome to Memphis, Blue Ridge Paper!
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