Twin Rivers Paper Announces Agreement to Acquire Pine Bluff, Arkansas Paper Mill from Mondi Group

Twin Rivers Paper Company LLC announced today that it has entered into a definitive agreement to acquire the paper mill located in Pine Bluff, Arkansas owned by Mondi Group. Twin Rivers, headquartered in Madawaska, Maine, produces specialty packaging, label, publishing, and technical specialty papers as well as dimensional lumber. It is owned jointly by Atlas Holdings LLC and Blue Wolf Capital. The acquisition is anticipated to be completed in Q2 2018.  Terms were not disclosed.

The Pine Bluff mill to be acquired under this Agreement produces Multiwall, Converting and Grocery Bag grade unbleached kraft papers serving a variety of food, agricultural, and industrial applications. With basis weights between 40# and 78#, the mill has a capacity in excess of 140,000 US short tons.

“Twin Rivers is a nimble, high quality, integrated forest products company, well positioned as a market leader in the packaging, publishing, label and technical specialties markets,” said Bob Snyder, Chief Executive Officer of Twin Rivers.  “The addition of the Pine Bluff Mill paper is consistent with the evolution of our company and fully complements our overall mill system, product offering, and strategic direction.”

“We are very pleased with the opportunity to add this facility and its valued associates to our company,” said Ken Winterhalter, President of Twin Rivers.  “The proposed transaction will provide a logical grade-line extension to our current offerings and clear evidence of our ongoing commitment to enhance the value we provide to our customers.”

“With this Agreement and its recent acquisition of Burrows Paper, Twin continues to strengthen its hold atop the marketplace,” said Tim Fazio, Co-Founder and Managing Director of Atlas Holdings.  “This is an exciting step for the business and we look forward to welcoming the team in Pine Bluff to the Twin Rivers family.”

“We are excited to add Pine Bluff to the Twin Rivers portfolio,” said Adam Blumenthal, Managing Partner of Blue Wolf Capital. “The strategic acquisition positions the company well to grow with and better serve its customers and other stakeholders.”

Clembag grBag s Willee, CEO Packaging Paper, Mondi Group, said, “We believe that the interests of the mill and its employees are better served by the new owners where there is a closer long-term strategic alignment.”
https://www.twinriverspaper.com/news/twin-rivers-paper-announces-agreement-to-acquire-pine-bluff-arkansas-paper-mill-from-mondi-group/

Related Posts

Lecta Presents its Wide Range of Adestor Sheets for Self-Adhesive Labels in a Comprehensive New Catalog

The new Adestor catalog contains the entire range of self-adhesive facestock available in sheets from Lecta. It also exclusively presents its latest products: *Adestor Laid White WS and Adestor Kraft Brown 70 textured sheets for labels with an artisanal look; *Adestor PET Laser Matt White facestock for applications that require high resistance to fluctuating temperatures, water or chemical products; *Adestor Stonepaper® 144 DfE facestock, Cradle2Cradle Silver certified and even more sustainable as it's made from recycled polyethylene and mineral powder. Plus, the new catalog includes our entire traditional offset printing range and our specialty SRA3 range in 32*45 format for digital printing, indicating each sheet's compatibility with the different offset print systems.

Tronox Reports First Quarter 2023 Financial Results

First Quarter 2023 Financial Highlights: *Produced revenue of $708 million, a decrease of 27% compared to the prior year *Generated income from operations of $62 million and net income of $25 million *Invested $93 million in capital expenditures, primarily in our vertical integration and newTRON initiatives

Glatfelter Announces Cost Reduction Measures in Its Specialty Papers Business Unit

The changes include the shutdown of Paper Machine 24 (“PM24”) at the Company’s Chillicothe, OH facility, the elimination of approximately 50 affected hourly positions at the facility, and a reduction of 70 salaried positions across the business unit. The PM24 shutdown will remove approximately 80,000 tons, or 10%, of capacity from the Specialty Papers Business Unit and reduce the Chillicothe facility’s exposure to purchased pulp. The Company plans for production to be absorbed by the remaining seven paper machines in the business unit. “The supply-demand imbalance in the printing and writing markets continues to put pressure on industry operating rates and selling prices. In light of the challenging market conditions, we must aggressively manage costs by eliminating capacity without impacting our ability to service our customers. While these are difficult decisions, we must take the actions necessary to strengthen our Specialty Papers business and position Glatfelter for long-term success,” said Dante C. Parrini, Chairman and Chief Executive Officer. Click Read More below for additional details.
Back To Top
×Close search
Search