MeadWestvaco to Sell Cedar Mill in Potsdam, NY
June 2, 2008 - MeadWestvaco today announced plans to sell its Specialty Papers Cedar mill in Potsdam, NY, to Potsdam Specialty Paper Inc. (PSPI).
Terms of the deal were not disclosed.
MeadWestvaco said the mill's current management team will remain in place following the sale, and all employees will transition to PSPI following the completion of the sale, which is expected to take place in the third quarter.
MeadWestvaco Specialty Papers will continue to own and operate its Willow mill in South Lee, MA.
PSPI is part of an investment holding company with offices in NY, Hong Kong, and Toronto.
SOURCE: MeadWestvaco Corp.