Nip Impressions logo
Thu, Jun 20, 2019 12:03
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
My Profile
Management Side
Resolute to sell South Carolina mill for $385 million

MONTREAL (From news reports) -- Resolute Forest Products Inc. says it has reached a deal to sell a pulp and paper mill in South Carolina for about $385-million to New-Indy Containerboard LLC.

The price for the Catawba, S.C. mill includes about $333.5-million (US$260-million) in cash plus assumption by the buyer of about $51.5-million of largely pension-based liabilities.

Resolute says the sale allows it to cash out of an operation that requires new investment and diversification to boost earnings.

It says New-Indy has proposed to take on the upgrades at the operation that employs 460 people.

Resolute says it will put the proceeds of the sale towards paying down debt as it continues to explore opportunities to expand its core businesses.

The Montreal-based company said at the end of August that it would also sell its Fairmont, W. Va. pulp mill for $70-million to Nine Dragons Paper Ltd.

Printer-friendly format


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: