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ND Paper Completes Acquisition of Old Town, Maine Pulp Mill

Old Town, Maine, pulp mill aerial Under the terms of the asset purchase agreement, ND Paper acquired the bleached kraft pulp mill, plus approximately 100 acres of real property, for an undisclosed sum, payable in cash.

Oct. 23, 2018 (Press Release) - ND Paper, a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, on Friday, Oct. 19, completed its acquisition of the Old Town kraft pulp mill from OTM Holdings, LLC, a subsidiary of CVG, Inc.

Under the terms of the asset purchase agreement, ND Paper acquired the bleached kraft pulp mill, plus approximately 100 acres of real property, for an undisclosed sum, payable in cash.

Prior to its idling in the fourth quarter of 2015, the Old Town Mill manufactured and distributed approximately 155,000 air dried metric tonnes (admt) annually of bleached hardwood kraft pulp.

After a series of phased capital investments, ND Paper expects the Mill will restart in the first quarter of 2019 and ultimately produce 275,000 admt annually of unbleached kraft pulp.

ND Paper is a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, the largest containerboard producer in China and Asia, and a leading paper product manufacturer globally. ND Paper manufactures and distributes various types of pulp, paper and paper-based packaging materials. Its mills in Rumford, Maine and Biron, Wisconsin are fully-integrated paper and pulp mills with approximately 1,000 employees and the capacity to produce 900,000 metric tons of pulp and paper annually. To learn more, please visit us.ndpaper.com.

SOURCE: ND Paper LLC

Go to a related story on PaperAge.com:
» ND Paper to Buy Pulp Mill in Old Town, Maine, Restart Expected in Q1 2019 - Oct. 11, 2018