Excerpts from a Nov. 7 by the Fairmont News of Fairmont, W.V., USA, reported a $62 million asset purchase transaction, ND Paper has acquired a Fairmont recycled pulp mill from Resolute Forest services, with plans to expand production at the facility.
The pulp mill joins two others owned by ND Paper in the U.S., with the others located in Maine and Wisconsin. The Fairmont mill is the only one to actually recycle pulp, while the others manufacture paper. ND Paper is a wholly-owned of Nine Dragons Paper (Holdings) Limited, a Chinese manufacturing company.
"ND Paper’s investment in the Fairmont mill is an important step in carrying out Nine Dragons’ global fiber sourcing strategy," said Brian Boland, VP of government affairs and corporate initiatives for ND Paper. "The acquisition is an upstream integration of the Nine Dragons business model and is expected to generate synergies within its existing raw material sourcing and production processes, benefiting the company with a more secure channel for material supply."
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