NewPage Wisconsin System Inc., a wholly owned subsidiary of NewPage Corp., Miamisburg, Ohio, and AIM Demolition USA LLC, Montreal, have entered into an asset purchase agreement by which AIM Demolition USA is purchasing the NewPage’s Kimberly, Wis., paper mill facility.
AIM Demolition USA LLC is an affiliate of American Iron & Metal, one of the largest scrap metal recycling companies in North America. Throughout the past several years, AIM has purchased a number of idled paper mills in North America that it has demolished, extracting different scrap metal.
The transaction is expected to close June 2011. According to a news release, AIM Demolition USA LLC is currently exploring various avenues regarding the potential future of the site.
NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and Nova Scotia, Canada. Combined, the mills have annual production capacity of about 4.1 million tons of paper.
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