Temple-Inland: No hurricane damage to plants

Temple-Inland Inc., which makes corrugated packaging and building products, said Tuesday that its plants in the Gulf of Mexico region were spared any significant damage from Hurricane Ike but that some are closed due to power outages.

The company said that it will take the next few days to restore power to its facilities that were affected by the storm that raked the region over the weekend, causing heavy damage to coastal regions of Texas and knocking out power to most of Houston.

Temple-Inland said the storm affected a container board mill in Orange, Texas; lumber mills in the Texas locations of Diboll, Pineland and Buna; a lumber mill in Dequincy, La.; and a fiberboard plant in Diboll.

The company expects that each of the plants will lose two days of production, and that downtime at the Orange plant will affect 16,000 tons of production.

Shares of Temple-Inland rose 58 cents to $18.65 in trading Tuesday.