UPM and Northern SC Paper divest Madison Paper Industries' mill assets
Production operations at Madison paper mill had been ceased in May last year, reducing global SC paper market capacity by approximately 200,000 tpy.
UPM and Northern SC Paper Corporation, a New York Times Company subsidiary, have announced the sale of assets related to the Madison Paper Industries' paper mill in Madison, Maine. The 200,000 tpy SC paper mill site has been sold to a joint venture of New Mill Capital Holdings, Perry Videx and Infinity Asset Solutions, according to a press release issued by UPM on 30 December 2016.
"The sale is a continuation of the dissolution of the partnership that was announced in March 2016. The hydro power assets located at the mill site are currently being marketed separate of today's transaction," UPM announced.
New Mill Capital has already listed the Madison paper mill assets for sale. More details of the asset sale are expected to be provided soon.
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