Today is an important day for our company. On April 28, 2010, we officially signed the final documents that completed the sale of Fraser's specialty paper business to the newly formed Twin Rivers Paper Company. Although we emerged from our restructuring process with a new name, fresh start, and optimism for the future, there was undoubtedly some marketplace skepticism about our long-term viability.
Ten years later, the hard work, strategic vision, and the diligence of our dedicated workforce paid off. We are a bigger, stronger, and more financially stable company with 1400+ employees in two countries and seven communities and the capacity to produce 550,000 TPY of specialty paper and 175,000 MMFBM of lumber.
Over the decade, we've made some significant achievements:
•Reorganizing and divesting non-strategic assets to create a sustainable and profitable business model
•Re-engineering our product portfolio to meet the rigorous requirements and growing demand for specialty packaging, technical, label, and publishing applications
•Gaining new resources and operational expertise through the acquisition of Twin Rivers by Atlas Holdings and Blue Wolf Capital
•Investing $47 million into the Madawaska, Edmundston, and Plaster Rock
•Expanding our specialty manufacturing capability and product portfolio through acquisition
•Technical Specialty Papers: Four legacy Burrows paper mills in Little Falls and Lyons Falls, New York as well as Pickens, Mississippi
•Sack Kraft Papers: A pulp and paper mill formerly owned by Mondi Group in Pine Bluff, Arkansas
•Becoming one of the largest specialty paper producers in North America with one of the best commercial and operations teams in the market
We couldn't have done this without our employees who have come together as one company, unified in our mission to be the best manufacturer of specialty papers. Regardless of the operation or role, our collective priority is delivering our hallmark service, innovation, and operational flexibility. Our team always gets the job done.
Perhaps most importantly, we are grateful for our customers' loyalty, trust, and support over the years - in the hard times and good times. We couldn't exist without them. Strong customer relationships and collaboration anchor our success and fuel our continued growth.
As we celebrate this 10-year milestone, there is a new challenge with COVID-19. Although it won't be easy, I am confident that we will get through this crisis and adapt to the new normal.
We are proud of our 10-year achievement and are thankful to be in a position to continue to supply our valued customers with Twin Rivers specialty papers.