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Blue Ridge Paper in talks with The Rank Group

March 28, 2007 - Blue Ridge Paper Products Inc.on March 26 said that it is engaged in preliminary discussions with The Rank Group pursuant to a non-binding letter of intent regarding a potential transaction involving the sale of Blue Ridge.

The Rank Group is the owner of the Carter Holt Harvey Ltd. group of companies, headquartered in New Zealand, and Evergreen Packaging Inc. (formerly the Beverage Packaging Division of International Paper).

Blue Ridge said there can be no assurance that a definitive agreement will be reached by the parties or that a transaction will take place between itself and the Rank Group now or in the future.

The company also said that it does not intend to comment on or provide further updates regarding this matter unless and until circumstances warrant such disclosure.

Blue Ridge Paper Products is a vertically integrated manufacturer of specialty paperboard packaging products and a broad range of specialty and commodity grades of paperboard and paper products. The company is based in Canton, North Carolina.

SOURCE: Blue Ridge Paper Products Inc.




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