Nashua Sells Coated Carbonless Assets to Nekoosa
Feb 8, 2006 -- Nashua Corp. yesterday said that it has sold certain assets of its coated carbonless business to Nekoosa Coated Products, LLC, of Appleton, Wisconsin.
Financial terms of the deal were not disclosed.
Nashua's coated carbonless business was part of the company's Specialty Paper segment and accounted for about one percent of total sales in 2005. The segment's products include papers manufactured for use in quick copy and mid-sized commercial printers as well as in-plant print shops that use high-speed copiers.
The assets sold include certain coated carbonless inventory and customer list.
Nashua said that approximately 14 positions, mainly in Nashua's Merrimack, New Hampshire facility, will be eliminated as a result of the sale. The company will incur an estimated $500,000 in severance.
The overall liquidation of the coated carbonless business is expected to be cash positive, Nashua added.
Nashua Corp. manufactures and markets a wide variety of specialty imaging products and services to industrial and commercial customers to meet various print application needs. The company's products include thermal coated papers, pressure-sensitive labels, bond, point of sale, ATM and wide format papers, entertainment tickets, and ribbons for use in imaging devices.
SOURCE: Nashua Corp.