Tak Investments Proposes Recycled Tissue Operation in Franklin, Virginia

May 20, 2011 - Tak Investments has announced a proposal to operate a recycled tissue plant in Franklin, Virginia and has entered into a Letter of Intent to complete the evaluation, including due diligence and feasibility analysis of this project.

The proposed project would include operating an existing recycled fiber plant in Franklin and processing post-consumer recycled fiber into tissue, towel and napkin products for converters.

The project calls for the modification of a paper machine into a tissue machine which would produce up to 70,000 tons per year of recycled tissue

Tak said the proposed operation would create about 80 permanent jobs initially.

The facility is targeted to be operational in the third quarter of 2012.

In a statement, Tak said, "We think the regional market is in need of a cost-competitive, world class recycled tissue machine and Franklin offers a great location for this facility. We are looking forward to being a part of economic development and job growth in the Franklin community."

Tak Investments currently owns and operates a 70,000 ton per year recycled tissue mill (ST Paper) in Oconto Falls, Wisconsin.

SOURCE: Tak Investments, Inc.