NewPage Completes Sale of Shuttered Niagara Mill in Wisconsin
The NewPage paper mill in Niagara, WI was shuttered in 2008. Photo courtesy Post-Crescent. Photo taken by staff writer Ed Lowe.
Feb. 11, 2011 - NewPage Wisconsin System Inc., a wholly-owned subsidiary of NewPage Corp., and Niagara Development LLC jointly announced Niagara Development LLC's acquisition of the NewPage Niagara, Wisconsin mill property and assets.
Terms of the deal were not disclosed, and the new owners did not elaborate on future plans for the property.
The NewPage Niagara facility permanently closed in July, 2008 due to a significant decrease in demand for coated paper. The paper machines at the Niagara mill produced approximately 250,000 tons of lightweight coated groundwood papers used in magazines and catalogs. In March, 2009, NewPage sold the NewPage hydroelectric facility in Niagara, Wisconsin to Northbrook Wisconsin, LLC.
"Since the closure of the mill in 2008, NewPage has worked with the City of Niagara to locate a viable purchaser for the mill with a positive outcome for the community," said George Bousley, mayor, City of Niagara. "We are pleased that Niagara Development LLC is purchasing the NewPage Niagara property and assets and believe this is the best possible option for the facility, the City of Niagara and its residents."
Niagara Development LLC is exploring options with the City of Niagara and others for possible uses of the property and assets going forward.
"We see this deal as a great opportunity for the towns of Niagara, Iron Mountain, Kingsford, Quinnesec and Norway, as well as the surrounding region," says Eric J. Spirtas, president of Niagara Development LLC.
Headquartered in Miamisburg, Ohio, NewPage Corp. is the largest coated paper manufacturer in North America, based on production capacity, with $3.1 billion in net sales for the year ended December 31, 2009. The company's product portfolio is the broadest in North America and includes coated freesheet, coated groundwood, supercalendered, newsprint and specialty papers.
SOURCE: NewPage Corp.