STORA ENSO NORTH AMERICA SOLD
Friday, September 21st, 2007 -- 10:14 AM
Big economic news for the area as a Wisconsin Rapids-based papermaker is changing hands again.Stora Enso Oyj will sell its North American coated paper operations, with headquarters in Wisconsin Rapids and six mills in Wisconsin, to Ohio-based NewPage Holding Corp.
The transaction is worth more than $1.5 billion.
The bulk of the coated papermaking operations going to NewPage are what used to be Consolidated Papers Inc., based in Wisconsin Rapids. The Finnish Stora Enso had bought Consolidated in August 2000 for $4.8 billion.
Wisconsin facilities include about 3,000 workers in Biron, Kimberly, Niagara, Stevens Point, Whiting, and Wisconsin Rapids.
The acquisition would more than double the employment base and production capacity of NewPage, making it North America's leading maker of paper used in magazines and catalogs.
[url=http://ir.newpagecorp.com/phoenix.zhtml?c=193188&p=irol-newsArticle_Print&ID=1054144&highlight=]Press Release[/url]
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