The company, which is owned by the private equity firm DeltaPoint Capital Management, based in Rochester, N.Y., has announced plans to restructure its financing to allow it to rebuild its paper machine. According to the company, the rebuild will result in a 23 percent increase in capacity. Climax Paperboard says the project, which it expects to be complete by the third quarter of 2014, also will enhance quality by making significant process improvements in paperboard formation and sheeting capacity.
The company exports its paperboard product to more than two dozen countries and will continue to focus on the graphic arts, pharmaceutical closures and custom packaging markets.
In a letter sent to its vendors and customers, Patrick Purdy, president and CEO of Carthage Specialty Paperboard, says the name change reflects the company’s long-term ties to the area as well as its history as one of the only remaining specialty recycled paperboard mills in North America. Purdy adds that while it will remain under the common ownership with its folding carton operation, Climax Manufacturing Co., Lowville, N.Y., both companies will now operate independently.
“The revitalization of our manufacturing capabilities will allow us to continue to meet the evolving needs of the unique markets we serve,” Purdy adds.