James River Corp. will sell a former Zellerbach unit
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The Richmond, Va., paper company, which acquired Crown Zellerbach’s pulp and paper operations last December, said it has agreed to sell Zellerbach Distribution Group to New York-based Mead Corp. for $250 million in cash. Included in the sale are paper distribution outlets--essentially warehouses--in 42 cities, including 11 in California. Zellerbach Distribution Group employs 2,100 people, including 1,000 in California.
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