Fraser Papers restructuring grades and name to Newco

Fraser Papers is reviewing the option of buying its core specialty paper business and renaming the new entity to Newco This will allow the company to exit creditor protection. The plan is to sell the assets of the core business in Edmundston, NB, Madawaska, ME and two New Brunswick lumber mills to the new entity, Newco. Than, the new company would dispose of remaining assets, owned by Fraser, including Gorham Paper Mill in NH, two lumber mills in Maine, and Thurso pulp mill in Quebec.