Sappi North America Agrees To Sell Its Hydroelectric Assets To Dichotomy Power
Sappi North America, Inc. announced that it will sell its hydroelectric assets on the Presumpscot River in Maine to Dichotomy Power LLC, pending satisfactory completion of regulatory and other approvals. The move is designed to allow Sappi to focus on its core competencies and is consistent with Sappi's recent restructuring of the Westbrook site. "We are happy to have found a strategic buyer in Dichotomy Power, a company with a wealth of expertise in this area, so that Sappi can continue to focus on its core competencies," said Mike Haws, President and CEO, Sappi North America. "Today's announcement allows us to redeploy resources to further develop our growing businesses."