Myllykoski Corporation has come to an agreement to divest the Madison Paper Company Alsip
Helsinki Nov 9, - MYLLYKOSKI has completed an agreement to sell its Madison Paper Company Alsip Mill to the Watermill Group. The Watermill Group is a private equity firm, headquartered in Lexington, Massachusetts.
The Alsip mill has a coated publication papers capacity of 135 000 metric tonnes, and the mill employs 148 people.
During a transition period, both companies will work collaboratively to ensure the service levels and product quality our customers have received from Myllykoski North America.
The parties have agreed not to disclose the terms of agreement. The transaction will have an estimated negative impact of EUR 35 million on Myllykoski Corporation’s fourth quarter result.
Myllykoski will continue to serve the North American market with its uncoated publication papers from its Madison Paper Industries Mill in Maine and its broad publication product mix from its group mills in Europe. The Madison mill serves the North American Market with superior SC qualities. Madison Paper industries (Maine) is a joint venture since 1979 with the New York Times Company.
More information:
Myllykoski Corporation:
Sverre Norrgård, President & CEO,
Tel: +358 9 348 9640
Media Contacts:
Charlotta Björnberg-Paul, Director, Communications
Tel: + 358 9 348 9648
About MYLLYKOSKI
MYLLYKOSKI is a family-owned international paper group with manufacturing in Finland, Germany and the United States and sales offices around the world. The Finnish roots of the parent company go back to 1892. MYLLYKOSKI products consist of wood-containing uncoated and coated publication papers, including newsprint. Customers include publishers, printers, and retailers worldwide.
MYLLYKOSKI is among the largest publication paper producers in the world.
MYLLYKOSKI operates eight paper mills with a total annual capacity of close to 3 million tonnes, including the alliance partner Rhein Papier GmbH. MYLLYKOSKI employs 3,000 people.
MYLLYKOSKI is known as a pioneer in using new technologies as well as recycled fibres for paper production. MYLLYKOSKI’s vision is to be the premier publication paper brand recognized for creativity and positive business solutions.