The deal will include 21 recycling facilities located in nine states.
SP Fiber Technologies LLC (SPFT) has successfully acquired substantially all of the assets and certain liabilities of SP Newsprint and its subsidiaries in a court-approved sale.
SPFT will relocate its corporate headquarters to its facility in Dublin, Ga. The company will operate its mills in Newberg, Ore., and Dublin, Ga. The company also will operate its wholly owned subsidiaries SP Recycling Southeast LLC and SP Recycling Northwest LLC. Combined, the two recycling subsidiaries operate 21 processing facilities in nine states.
SP Fiber also announced Jay Gurandiano will serve as chairman, president and CEO of the company. He has held senior management positions at Smurfit-Stone Container Corp., and founded St. Laurent Paperboard. Gurandiano also will oversee SPFT’s recycling businesses.
“We are excited about the future of SPFT and all of its businesses,” Gurandiano says. “SPFT is a well capitalized company with committed and knowledgeable shareholders and an exciting strategic plan to strengthen its place in the newsprint and packaging markets. It has a strong and experienced workforce and a solid customer base to build upon.”
Newsprint will remain the foundation of the business for the foreseeable future, Gurandiano says. However, the company plans “to aggressively developing an innovative value-added packaging component to service the paperboard, containerboard and converting marketplaces. SPFT will focus on customer service, environmental stewardship and technological innovation.”