ND Paper, a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, completed its acquisition of the Old Town kraft pulp mill from OTM Holdings, LLC, a subsidiary of CVG, Inc.
Under the terms of the asset purchase agreement, ND Paper acquired the bleached kraft pulp mill, plus approximately 100 acres of real property, for an undisclosed sum, payable in cash.
Prior to its idling in the 4Q 2015, the Old Town Mill manufactured and distributed approximately 155,000 air dried metric tonnes (admt) annually of bleached hardwood kraft pulp. After a series of phased capital investments, ND Paper expects the Mill will restart in the 1Q 2019 and ultimately produce 275,000 admt annually of unbleached kraft pulp.
ND Paper is a recently-formed, wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited. ND Paper operates three pulp and paper mills in North America with diverse capabilities and combined annual production capacity exceeding 1.1 million metric tonnes.