SALE OF STORA ENSO FINALIZED
Friday, December 21st, 2007 -- 2:37 PM
An Ohio-based company has completed the purchase of Stora Enso Oyj's (rhymes with toy) North American.NewPage Corp. said Friday that it has completed its $2.6 billion of Stora Enso Oyj's North American papermaking operations, which includes nearly 3,000 employees in six Wisconsin communities, including headquarters in Wisconsin Rapids.
The combination creates the largest maker of coated printing papers in North America.
NewPage's announcement was mum on specific cost-cutting plans but said that the company expects to reduce $265 million a year in combined operating costs.
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