SP Newsprint Co. LLC, Dublin, Ga., has entered into a forbearance agreement with its revolving and term lenders. SP Newsprint Co. will be provided with additional liquidity and the lenders will forego from exercising any rights or remedies that might otherwise have been available to them.
During the forbearance period, the company, its lenders and advisors will work to develop and implement a business plan for SP Newsprint Co. which will ensure its viability on a long-term basis.
In addition to the Dublin location, the company also operates a newsprint mill in Newberg, Ore. The two mills combined produce around 900,000 metric tons of recycled-content newsprint per year. The company, through its SP Recycling Corp., subsidiary, operates 22 recycling facilities throughout the United States.
Latest from Recycling Today
- US Steel to restart Illinois blast furnace
- AISI, Aluminum Association cite USMCA triangular trading concerns
- Nucor names new president
- DOE rare earths funding is open to recyclers
- Design for Recycling Resolution introduced
- PetStar PET recycling plant expands
- Iron Bull addresses scrap handling needs with custom hoppers
- REgroup, CP Group to build advanced MRF in Nova Scotia
