Northern Pulp Completes Deal for Nova Scotia Mill
June 25, 2008 - Northern Pulp Nova Scotia Corp., an affiliate of Atlas Holdings LLC and Blue Wolf Capital Management LLC, yesterday said it has completed its acquisition of Neenah Paper Company of Canada’s kraft pulp mill at Abercrombie Point, Pictou County, Nova Scotia. An agreement to sell the mill was announced in mid–May and terms of the sale remain as announced at that time.
The Pictou County mill is now a stand alone business, incorporated in Nova Scotia, with affiliates of Atlas Holdings LLC and Blue Wolf Capital Management LLC as well as local management as equity owners.
Mill General Manager and Chief Operating Officer Keith Johnson said Northern Pulp will be assuming all assets and liabilities associated with the mill operations as well as existing customer contracts, supply agreements, labour agreements and pension obligations.
Although Neenah Paper’s forest land holdings were not part of the sale, Northern Pulp will manage the Neenah lands under a long term agreement and will continue to harvest wood fiber as in the past, from its Crown licensed lands and under contract from privately held forest land.
SOURCE: Blue Wolf Capital Management LLC
See related story:
- Neenah Paper Agrees to Sell Pictou Pulp Mill