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Germany's August Koehler Halts Talks in US

Jan. 22, 2009 - German papermaker August Koehler AG said that after months of evaluating U.S.-based paper mill facilities that could be retrofitted for the production of thermal papers, it has for now halted talks with undisclosed sellers.

“As already reported by the press, Koehler is considering building or acquiring a production facility for thermal papers in the US. During recent months, several such projects were evaluated by Koehler in detail, but did not achieve the project goals,” Koehler said in a written statement to PaperAge. “The corresponding talks have been discontinued,” Koehler said.

Last week, several media outlets reported Koehler close to making a deal for NewPage's shuttered mill in Kimberly, Wisconsin. However, at that time, Koehler remained tight-lipped and would only say that it would not comment on "rumors."

Koehler did indicate to PaperAge that it will continue to explore growth opportunities in the U.S. “Irrespective of [discontinued talks], Koehler remains determined to pursue its plans for growth in the US.”

SOURCE: August Koehler AG




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