US based Expera Specialty Solutions, has signed an agreement to acquire idled Old Town Fuel & Fiber pulp mill for an undisclosed sum.
The specialty paper products manufacturer is planning to invest significant additional capital and resources to ensure the highest level of production quality and capacity at the Old Town Fuel & Fiber pulp mill.
“A combination of Expera and Old Town will significantly strengthen both businesses. In particular, the combination will increase Expera’s vertical integration into pulp and reduce Old Town’s go-forward commercial risk by becoming part of Expera, a financially strong enterprise, that serves stable and growing end markets and possesses a dedicated base of long-term customers rather than as a standalone enterprise,” said, Russ Wanke, CEO, Expera.
The pulp mill with the annual capacity to produce more than 200,000 tonnes of northern bleached kraft pulp is located at Old Town in Maine.
