Pixelle Specialty Solutions has signed a definitive purchase agreement to acquire specialty paper mills in Jay (Androscoggin), ME and Stevens Point, WI from Verso Corporation. The transaction is anticipated to close in the first quarter of 2020.
The Androscoggin mill has the capacity to produce approximately 425,000 tons of paper per year and currently produces flexible packaging papers, release liner base, specialty labels, kraft papers and linerboard. The Stevens Point mill has the capacity to produce approximately 210,000 tons of paper per year and currently produces coated flexible packaging papers, release liner base, thermal papers, and other specialty labels.
Upon closing the deal,
‘We are very excited about the new specialty capabilities and talented workforce that will be added to our portfolio. With Lindsay Goldberg’s resources, industry experience and management talent, combined with Pixelle’s skilled workforce and world class assets, we are building a high-performance, specialized business for our customers,’ said Tim Hess, Pixelle president.