Pixelle Specialty Solutions to Acquire Specialty Paper Business From Verso Corporation

Pixelle Specialty Solutions (“Pixelle”), one of the largest specialty paper producers in North America in terms of annual production, has signed a definitive purchase agreement to acquire specialty paper mills in Jay (“Androscoggin”), ME and Stevens Point, WI from Verso Corporation. The transaction is anticipated to close in the first quarter of 2020

The Androscoggin mill has the capacity to produce approximately 425,000 tons of paper per year and currently produces flexible packaging papers, release liner base, specialty labels, kraft papers and linerboard. The Stevens Point mill has the capacity to produce approximately 210,000 tons of paper per year and currently produces coated flexible packaging papers, release liner base, thermal papers, and other specialty labels.

Upon closing, Pixelle will be the largest specialty paper business in the U.S. in terms of annual production, with industry-leading positions in a broad range of products including high-speed inkjet, machine glazed (MG) & machine finished (MF) papers, release liner, thermal base paper, trade book paper, carbonless, greaseproof, and coated one side (C1S) specialties. Pixelle will operate four mills (Androscoggin, ME; Chillicothe, OH; Spring Grove, PA; and Stevens Point, WI), three of which have on-site pulp mills, with a total of 12 paper machines and the capacity to produce more than one million tons of paper annually in aggregate. Additional operations will include a converting facility in Fremont, OH and wood fiber sourcing operations in strategic wood baskets in Maine, Maryland, Ohio and West Virginia.