Paper Industry Veteran Joe Raccuia Buys New York-based Tissue Converter Morcon
Oct. 16, 2013 - Morcon, Inc. announced the sale of its business to longtime paper industry executive Joseph F. Raccuia. The company operates two tissue, towel and napkin converting facilities — one in Upstate New York and the other in South Carolina.
Terms of the deal were not disclosed.
Raccuia is the former president and CEO of SCA Tissue North America and former president and CEO of uncoated printing paper manufacturer Finch Paper LLC.
Morcon serves the Away-From-Home commercial, food service, healthcare and industrial markets. The company employs 120 people at its SC location and 85 people in Cambridge, New York, where the business is also headquartered.
“Morcon is a very well-run, successful and growing business,” Raccuia said. “I'm looking forward to continuing this momentum, and working with Morcon's employees to take the business to even greater levels of success.”
Raccuia said Morcon's two locations are strategically located to service the eastern U.S. and key portions of the Midwest, although there are customers nationwide. His long-term plans envision additional locations to grow business in the central and western parts of the country.
In the immediate future, Raccuia said his priorities are to meet with Morcon's employees, customers and key suppliers, and begin building a go-to-market strategy that anticipates and exceeds customer expectations and capitalizes on the company's strategic strengths.
“I know where I want to take this business, but to get there I have to draw on others' expertise and ideas, and that includes our employees, customers and suppliers,” Raccuia said.
The founder, president and CEO of Morcon, Wayne R. Morris, who established the business in 1987, said, “Morcon has been my family's life for nearly three decades, but now is the right time for me to move. I could not have found a more qualified or interested buyer than Joe Raccuia, and would not have entrusted this business to anyone with lesser credentials or enthusiasm. Joe has a great vision for growing this business, and tremendous contacts within the industry to help him reach his goals.”
Raccuia served as president and CEO of SCA Tissue North America from November 2001 through April 2008. He then joined Finch Paper in February 2009, where he served as president and CEO until stepping down on May 24 of this year.
SOURCE: Morcon, Inc.