Article on Maine paper mills, highlighting the role of investment firms in acqu

Whit Richardson

Source

Mainebiz

Date

6-26-2006

Pages

1, 6

Abstract

Article on Maine paper mills, highlighting the role of investment firms in acquiring the mills. New York-based investment firm Apollo Management is purchasing International Paper's coated paper business for $1.4 billion. Apollo joins Cerberus Capital Management, a Wall Street firm, that last year bought a mill in Rumford as part of its acquisition of MeadWestvaco Corp.'s paper business. Smaller investors purchased the bankrupt Eastern Pulp and Paper Co. mill in Lincoln in 2004. Jack Cashman, commissioner of the Maine Department of Economic and Community Development, said the money being invested in the capital-intensive paper industry by these companies is a very good sign. With comments by John Williams, president of the Maine Pulp and Paper Association; and Keith Van Scotter, CEO of Lincoln Paper and Tissue.

Subjects

Paper mills, Paper industry

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