Double A Agrees to Buy Pulp Mill in Alizay from the Department of Eure
Doyuble A plans to restart the pulp mill at the Alizay site in Northern France during the first quarter of 2015.
Jan. 6, 2014 - Thailand-based pulp and paper producer Double A said that on December 17 it agreed to acquire the pulp mill and bio-mass power plant that is situated next to the site of its Alizay paper mill in France.
Terms of the deal were not disclosed.
Double A is buying the pulp mill from the Department of Eure in Northern France.
Jean Louis Destans, Chairman of the General Council of the region of Eure, said, We have agreed on the selling price of the land, the buildings and the assets necessary to revive the production site. All that remains is for us to prepare and sign the deeds as soon as possible. This is in both parties interest as it will initiate the revival of paper pulp production on the site."
On January 23, 2013, the Department of Eure bought the property and production assets of the Alizay pulp and paper mill site from Metsa Board for EUR 22 million. On the same day, the Department sold the paper mill to Double A for EUR 18 million.
Double A said the investment in the pulp mill will also include investment in the site's bio-mass power plant.
Thirawit Leetavorn, Senior Executive Vice President of Double A, noted, 2013 marked a successful return of the Alizay Paper Mill, which returned to full production in June and was producing premium quality Double A paper by August. The mill began exporting paper in September to the UAE and Eastern Europe. This success was due to the combined efforts of the profession team at Alizay and the Thai team, bringing together a truly unique partnership.
Double expects to restart the pulp mill in the first quarter of 2015.
Double A is a global leader in premium copy paper and is one of the most advanced fully integrated pulp and paper manufacturers in the world. Double A produces high performance, super smooth Double A paper which is available in more than 120 countries worldwide. To learn more, please visit: www.DoubleApaper.com
SOURCE: Double A
Editor's note: Alizay is a commune in the Eure department in Haute-Normandie in northern France.