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SFK Pulp Completes Deal for Two Recycled Pulp Mills

Nov. 1, 2006 - SFK Pulp said that it has completed the acquisition of the two recycled bleached kraft (RBK) pulp mills known as the American Fiber Mill and the Great Lakes Mill, respectively owned by American Fiber Resources, LLC and Great Lakes Pulp Company, for a total purchase price of $156.1 million, subject to certain post-closing working capital adjustments.

The purchase price excludes an expected investment in working capital of approximately $26.0 million, SFK said.

With the acquisition, SFK Pulp now operates, through its subsidiaries, the Saint-Félicien Mill, the Fairmont Mill and the Menominee Mill and employs approximately 550 people. The Saint-Félicien Mill (located in Saint-Félicien, Québec, approximately 450 kilometres north of Montréal) has an annual production capacity of 375,000 metric tonnes of NBSK pulp and supplies NBSK pulp to various sectors of the paper industry in Canada, the United States and in Europe for use in speciality products.

The Fairmont Mill (located in Fairmont, West Virginia) and the Menominee Mill (located in Menominee, Michigan), with a combined annual production capacity of 360,000 metric tonnes, both manufacture air-dried market recycled bleached kraft (RBK) pulp and primarily supply RBK pulp to manufacturers of uncoated freesheet, commercial and away-from-home tissue and coated paper in the United States.

SOURCE: SFK Pulp




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