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Neenah Paper agrees to buy Fox River Paper

Feb. 6, 2007 - Fine paper producer Neenah Paper said that it has signed a definitive agreement to purchase the Fox Valley Corporation, which owns Fox River Paper Company, LLC.

The deal has been approved by the boards of both companies and is subject to customary closing conditions and approval by Fox River shareholders, Neenah Paper said.

The purchase price was not disclosed.

"The purchase of Fox River provides a unique opportunity to strengthen our existing Fine Paper business with added scale in the marketplace, better prospects for growth, and the ability to offer a broader array of premium branded products and better service to our customers," said Sean Erwin, Neenah's Chairman and CEO.

Fox River Paper operates four paper mills: Appleton, Wisconsin, Ripon, California, Housatonic, Massachusetts, and Urbana, Ohio. The company produces about 100,000 tons per year of writing, text and cover papers.

Neenah expects to finalize the acquisition in the first quarter.

SOURCE: Neenah Paper Inc.




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