Neenah Paper Sells Shuttered Ripon, CA Mill for $9 Million
Oct. 28, 2010 - Neenah Paper said that it has sold the land and remaining assets of its fine paper mill in Ripon, California to Diamond Pet Food Processors of Ripon, LLC for a purchase price of $9 million.
Neenah Paper will recognize a pre-tax gain on the sale of approximately $3 million in the fourth quarter of 2010.
In May 2009, Neenah Paper announced plans to permanently close mill, which operated one paper machine with an annual capacity of approximately 35,000 tons of fine paper.
The Ripon mill began operation in 1960, when the Simpson-Lee Paper Company opened the then $8 million plant to manufacture fine papers. Simpson sold the mill in 1996 to Wisconsin-based Fox River Paper Company. Neenah Paper took over the mill in 2007, when the company acquired Fox River Paper.
SOURCE: Neenah Paper, Inc., and other media news sources