ND Paper, a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, completed its acquisition of the Old Town, Maine, kraft pulp mill from OTM Holdings LLC, a subsidiary of CVG Inc. on Oct. 19.
Under the terms of the asset purchase agreement, ND Paper acquired the bleached kraft pulp mill, plus approximately 100 acres of real property, for an undisclosed sum, payable in cash.
Prior to its idling in the fourth quarter of 2015, the Old Town Mill manufactured and distributed approximately 155,000 air dried metric tons annually of bleached hardwood kraft pulp, according to an ND Paper news release. After a series of phased capital investments, ND Paper expects the Old Town Mill will restart in the first quarter of 2019 and ultimately produce 275,000 air dried metric tons annually of unbleached kraft pulp.
ND Paper also acquired Catalyst Paper’s Rumford, Maine, and Biron, Wisconsin, paper mills earlier this year in June.
Latest from Recycling Today
- Ocean freight interruptions poised to continue
- Danieli to supply shredder to Australian company
- Equipment from the former Alton Steel to be auctioned
- Novelis resumes operations in Greensboro, Georgia
- Interchange 360 to operate alternative collection program under Washington’s RRA
- Waste Pro files brief supporting pause of FMCSA CDL eligibility rule
- Kuraray America receives APR design recognition for EVOH barrier resin
- Tire Industry Project publishes end-of-life tire management guide
