Pratt Starts Production at New Recycled Paper Mill in Indiana
Pratt team gathers in front of the first reel of paper to come off the new paper machine at the company's new recycled paper mill in Valparaiso, Indiana.
Oct. 6, 2015 - Pratt Industries announced on Oct. 5 that its new $260 million recycled paper mill in Valparaiso, Indiana (USA) had started production. The mill, which employs 120 people, has the capacity to produce 370,000 tons per year of recycled linerboard and corrugated medium.
Pratt said the new 100 percent recycled facility would supply the company's expanding Midwest operations.
According to its chairman, Anthony Pratt, in just two years, the company has invested more than $400 million in the U.S.
"This is a great day for Pratt Industries," said Pratt. "This mill represents the single biggest investment we've ever made in the U.S."
Pratt said the new mill would also increase the company's annual revenues from approximately $2.1 billion to approaching $2.5 billion.
"This puts us in a very strong position to exceed our medium range target of $3.5 billion in sales ahead of schedule," he said.
Pratt said America's low energy costs and inherent entrepreneurial spirit had given rise to a new wave of manufacturing growth, especially in the Midwest where he says industry is booming and jobs are coming back from China and elsewhere.
"We're riding that wave," he added.
The mill, located 50 miles southeast of Chicago, is on the same site as Pratt's corrugated box plant. It will supply that facility as well the company's other box-making sites throughout the region with recycled paper.
Pratt also noted that the company will open a new $50 million corrugated box plant in Beloit, Wisconsin in just a few weeks.
Pratt Industries now has some 130 facilities in the U.S.
Pratt Industries is the 5th largest corrugated packaging company in the U.S. and the world's largest, privately-held 100% recycled paper and packaging company. To learn more, please visit: www.prattindustries.com.
SOURCE: Pratt Industries