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Nine Dragons to acquire Catalyst Paper's US mills

28 May 2018 − 

Catalyst Paper exits the US market. The company will sell its US operations comprising the Rumford and Biron mills to China's Nine Dragons Paper for $175m.

Chinese paper group Nine Dragons Paper plans to acquire the US operations of Canadian pulp and paper manufacturer Catalyst Paper. The two companies announced they had entered into an agreement under which Nine Dragons will take over the entire equity interest in Catalyst Paper Operations Inc. which owns two mills in Rumford, Maine and Biron, Wisconsin, both in the USA. The transaction price was put at $175m. Closing of the acquisition is expected to take place by the end of the second quarter.

Both the Rumford Mill and the Biron Mill are fully-integrated pulp and paper mills engaged in the business of manufacturing and distributing various types of pulp, paper and paper-based packaging materials. The Rumford mill operates three paper machines with a combined capacity of approximately 550,000 tpy of one-side coated, coated woodfree as well as coated mechanical paper. The mill furthermore has the capacity to produce 520,000 tpy of hardwood and softwood pulp, of which 400,000 t are for internal consumption and the rest are for market.

The Biron Mill operates two paper machines with a combined capacity of approximately 340,000 tpy of coated mechanical paper.

Find the entire article and any associated background information in EUWID Pulp and Paper 22/2018.

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