Neenah buys Fox River Paper

Feed: 6 - Date: 2/14/2007 - Views: 1,080

Fox River Paper is selling its paper business to Neenah Paper.

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Fox River Paper is selling its paper business to Neenah Paper.

Citing strenuous market conditions as the reason for the divestiture, Fox employs a total of 750 people at its four, U.S.-based paper mills.

"We have a very strong team, but in the last decade, we΄ve had declining demand, excess capacity and unprecedented cost increases," the Berkshire Eagle reported CEO Jeffrey Miller as saying. "The decreasing demand based on electronic substitutions – people who wrote letters in the past 10 years are using e-mail – and that΄s a big impact on writing paper. There΄s a need for consolidation in this industry, and this is a very powerful combination."

The acquisition will officially be made in March, and no purchase price has been disclosed.

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