The facility produces air-dried recycled pulp
ND Paper, a wholly-owned subsidiary of Nine Dragons Paper has entered into an agreement with Resolute Forest Products to acquire the latter’s recycled bleached kraft pulp mill located in West Virginia, reports Area Development.
The company plans to fund the USD 55 million acquisition, plus certain elements of working capital, through existing cash of its balance sheet. The mill has an annual production capacity of around 218,000 metric tons and produces air-dried recycled pulp.
"We are thrilled to add the Fairmont Mill to Nine Dragons' global portfolio," said Ken Liu, CEO of ND Paper. "Our acquisition of the Fairmont Mill enables us to further our US and global growth, and sustains the momentum commenced by our recent acquisitions of the Biron, Wisconsin and Rumford, Maine pulp and paper mills acquired from Catalyst Paper in Q2 2018. Not only is this transaction consistent with our long-term strategy of environmentally-sustainable papermaking, but also it further supports Nine Dragons' company-wide fiber sourcing requirements and global growth initiatives."