Georgia-Pacific, Halliburton Planning to Spin Off Asbestos Liability-Heavy Products Divisions

ATLANTA - Georgia-Pacific Corp. announced in late March that its board of directors had authorized the corporation's management team to finalize plans for the 'strategic separation' of its consumer products and packing businesses from its building products and distribution businesses.

photo-6 The building products division, which faces thousands of asbestos-related lawsuits, would be the only business remaining with Georgia-Pacific after the proposed reorganization. Asbestos was used in some of the company's products from 1965 to 1977 and is now the subject of some 62,000 injury claims.

The proposed spinoff may shield Georgia-Pacific's burgeoning consumer products business, which includes such brands …