Fraser Papers Completes Sale of Gorham, NH Mill

Dec. 17, 2010 - Fraser Papers Inc. today announced that it completed the sale of its paper mill in Gorham, New Hampshire on December 16, 2010, to a subsidiary of Counsel RB Capital, LLC.

Terms of the deal were not disclosed.

Fraser Papers signed an agreement with Counsel on November 27, 2010, and the deal was approved by the Ontario Superior Court of Justice (Commercial List) on December 3, 2010.

Fraser Papers remains under creditor protection pursuant to the provisions of the Companies' Creditors Arrangement Act ("CCAA"), with its stay of proceedings having been extended by the court to February 28, 2011.

SOURCE: Fraser Papers Inc.

See related story:
» Fraser Papers Gets Court OK for Sale of Gorham, NH Mill (12/7/2010)