Business
Neenah Paper Completes Purchase of Fox River Paper
Neenah Paper Completes Purchase of Fox River Paper.
About this update from Northpalm Capital Corp.
[{"type":"text","content":"\n\n\n\nALPHARETTA, GA, March 1 /CNW/ - (NYSE: NP) - Neenah Paper, Inc. today\nannounced that it completed the previously announced purchase of Fox Valley\nCorporation, which owns Fox River Paper Company, LLC ("Fox River"). Fox River\nis a leading U.S. producer of premium fine papers with well-known brands\nincluding STARWHITE(R), SUNDANCE(R), ESSE(R) and OXFORD(R). The company has\nmanufacturing plants in California, Massachusetts, Ohio and Wisconsin and will\nbecome part of Neenah Paper's existing fine paper business.\n\n\n"This acquisition allows us to strengthen our Fine Paper business by\nproviding added scale and the ability to offer a broader array of premium\nbranded products and better service to our customers. In addition, we expect\nto realize important economic benefits as we integrate the two businesses,"\nsaid Sean Erwin, Chief Executive Officer and Chairman of the Board. "Coupled\nwith our purchase last October of the German technical products business, this\nacquisition is a wonderful fit with our strategy to transform into a leading\npremium fine paper and technical products company and to grow profitably to\ncreate value for our customers and stakeholders."\n\n\nAdditional details of the transaction will be discussed during the\npreviously announced Fourth Quarter Earnings Call to be held at 11:00 a.m.\nEastern time on March 8 and can also be found in the company's 8-K filings.\n\n\nAbout Neenah Paper, Inc.\n\n\nNeenah Paper manufactures and distributes a wide range of premium and\nspecialty paper grades, with well-known brands such as CLASSIC(R),\nENVIRONMENT(R), STARWHITE(R), ESSE(R), KIMDURA(R) and MUNISING LP(R),\nGessner(R) and varitess(R). The company also produces and sells bleached pulp,\nprimarily for use in the manufacture of tissue and writing papers. Neenah\nPaper is based in Alpharetta, Georgia, and has paper manufacturing operations\nin the United States and Germany, and a pulp mill and related timberlands in\nNova Scotia, Canada. Additional information about Neenah Paper can be found at\nthe company's web site at www.neenah.com.\n\n\nCautionary Note Regarding Forward-Looking Statements\n\n\nCertain statements in this press release may constitute "forward-looking"\nstatements as defined in Section 27A of the Securities Act of 1933 (the\n"Securities Act&...