Catalyst will purchase the Biron paper mill in Wisconsin, and the Rumford pulp and paper mill in Maine for $74 million, subject to certain adjustments, officials said.
The transaction is subject to closing conditions, including the completion of the previous announced acquisition of NewPage Holdings Inc. by Tennessee-based Verso Paper Co.
If the transaction is completed, the addition of the paper mills is expected to increase Catalyst’s production capacity by about 65 percent, or 995,000 tons per year, officials said.
In January, NewPage and Verso announced a proposed $1.4 billion merger. Headquartered in Miamisburg, NewPage has more than 300 local employees.
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