International Paper, North America's Largest paper maker, agreed to sell its Fine Paper Business to Mohawk Paper Mills for $65million. The deal will close early in the second quarter.
This division includes uncoated text, writing, cover and artist papers. The mills include Hamilton, Ohio (65,000tons); and converting locations in Saybrook, Ohio and Westfield, Mass. The sale means Mohawk will market Strathmore, Brite Hue, Via, and Beckett. Paper.com proudly distributes all these grades and will enjoy non interupted service.
International Paper continues to progress with selling the Industrial Paper unit to Kohlberg & Co. Current terms include mills in DePere and Kaukauna, Wisconsin for $180million.
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