A brief update on the investment project of Nine Dragons Paper in Maine, USA paper mills was published this week:

A Chinese company is investing heavily to restore two Maine paper mills it bought last year and turn them into sustainable, long-term businesses.

The head of the company’s U.S. operations said his company, ND Paper, wants to improve efficiency and update operations at the former Catalyst Paper Mill in Rumford and the former Expera Old Town pulp mill, both of which ND bought last year.

To do so, the company is rolling up its sleeves, fixing oil leaks, repairing equipment and adding more efficient machinery.

ND Paper is investing close to $500 million in the four U.S. plants it has purchased in the past year. That amount includes the purchase prices.

Of the total, about $111 million is being directed toward upgrading the Rumford mill and another $40 million for Old Town.

"Our vision for ND Paper in the United States is to be diversified in paper, pulp and packaging," said Ken Liu, CEO of ND Paper of Oakbrook Terrace, Illinois. "Right now, we are heads down to get our four U.S. mills running."

 

Source: Bangor Daily News (Bangor, Me., USA)