Progressive Converting to Acquire Northwoods Paper Converting
Dec. 10, 2010 - Progressive Converting (Pro-Con) and Northwoods Paper Converting (NPC) said that they have entered into a definitive agreement whereby Progressive Converting will acquire NPC.
Terms of the deal were not disclosed.
Both companies are based in Wisconsin — Pro-Con in Appleton and NPC in Beaver Dam.
“We are excited about the opportunities this acquisition presents to the customers and employees of both companies,” said Dan Curtin, president and CEO of Pro-Con. “By combining the two companies, we expand and strengthen our capabilities to meet the demands of our customers, which are changing rapidly.
“Our service platform, providing quick turn, standard and custom sized sheets and rolls to the paper and printing industry, allows our customers to focus on their core business," Curtin said.
"This will accelerate our plan to expand into additional geographic markets, allowing our customers to look to Pro-Con as a single source to handle their converting needs across North America,” Curtin added
NPC's president, Chad Abel, said, “We at NPC have been exploring opportunities to expand into a national converter for the last couple of years due to existing customer potential. To accomplish this task we researched a few different scenarios and found a merge with Pro-Con was a perfect fit for our employees and customer-base.”
NPC began its operations in December 1999, and Abel said he has always held a great deal of respect for Pro-Con.
“We have always admired Pro-Con's growth, hard work, service platform and competition,” Abel said. “As we move forward as a combined entity, I am excited to see how far we can push the limits in distribution and converting.”
Curtin added, “Chad Abel and his team have proven their ability to grow through innovation and determination. They have an excellent reputation throughout our industry and we are proud to have them join and strengthen the Pro-Con team and help us achieve and exceed our goals as we go forward together as one company.”
Pro-Con said the combined companies will offer rewinding and sheeting capabilities including cut-size, digital, folio and large format sheets, along with warehousing and distribution services with the ability to finish and deliver customers' products to any US market quickly and cost effectively.
Future plans include the addition of equipment in its current locations and expand into new markets in 2011 and 2012 to further enhance its geographic presence.
In addition to its converting division, Pro-Con has a web paper sales division offering printers quick turn, custom size rolls of paper in the most common grades.
Pro-Con expects the deal to close in the first quarter of 2011.
SOURCE: Progressive Converting Inc. and Northwoods Paper Converting, Inc.