A U.S. Bankruptcy Court judge approved the sale of a tissue mill in Memphis, Tenn., to Kruger Inc. and its Scott Paper Ltd., subsidiary. The sale price is $4 million. The mill, formerly owned by American Paper Co., closed this past spring.
In addition to the $4 million price, Kruger paid $20 million to one of the chief creditors, Bank of America, for the equipment. Kruger acquired Scott Paper Ltd. in 1997, a leading tissue manufacturer in Canada. (Memphis) Commercial AppealKruger Acquires Idled Tennessee Mill
Canadian company looks to take over tissue mill.
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