Catalyst Paper completes acquisition of paper mills in Wisconsin and Maine

The cash payment made on closing was US$62.4 million
Catalyst Paper Corporation recently announced that it has completed the acquisition of the Biron paper mill located in Wisconsin and the Rumford pulp and paper mill located in Maine, USA that was previously announced on October 30, 2014, from NewPage Corporation, NewPage Wisconsin System Inc., and Rumford Paper Company. The cash payment made on closing was US$62.4 million, after giving effect to an adjustment under the purchase agreement based on estimated working capital at closing, and the final purchase price is subject to certain additional post-closing adjustments.

“This acquisition represents a new chapter in the history of Catalyst Paper,” says Joe Nemeth, President and Chief Executive Officer. “With the addition of the Rumford and Biron mills, Catalyst becomes a larger and stronger company with five facilities across North America and an estimated production capacity of 2.1 million tons of paper and 500 thousand tons of pulp. Catalyst is now the only producer in North America with manufacturing facilities in the West, Midwest and East, and has an enhanced product suite to effectively meet global customer needs.”


PULPAPERnews - SUECIA - 9 enero 2015