GP pushes back IPO

ATLANTA - Shares of Georgia Pacific have edged lower upon word it has decided to delay the separation of its consumer products division. The wood products giant cites weak financial markets and slow sales for its building materials. <br> <br> The company says it remains convinced that the strategy of splitting the company into two parts is the right thing to do. But a spokesman says the state of the markets suggests an initial public offering would not raise the amount earlier hoped. <br> <br> Back in May, the company&#39;s board approved the separation of the lucrative consumer products and packaging division, a unit that produces Quilted Northern and Angel Soft bathroom tissue, Dixie cups and Brawny paper towels, from its debt-laden building products division. <br> <br> Georgia Pacific shares were down a $1.57 to $19.70 on the New York exchange, a loss of seven percent.

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