OAKBROOK TERRACE, Ill. (News release) -- ND Paper LLC ("ND Paper"), a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, announced that it has entered into a definitive asset purchase agreement with Resolute Forest Products Inc., pursuant to which Nine Dragons will acquire Resolute's recycled bleached kraft pulp mill located in Fairmont, West Virginia for US$55 million plus certain elements of working capital, payable in cash. Nine Dragons plans to fund the acquisition through existing cash on its balance sheet.
"We are thrilled to add the Fairmont Mill to Nine Dragons' global portfolio," said Ken Liu, CEO of ND Paper. "Our acquisition of the Fairmont Mill enables us to further our US and global growth, and sustains the momentum commenced by our recent acquisitions of the Biron, Wisconsin and Rumford, Maine pulp and paper mills acquired from Catalyst Paper in Q2 2018. Not only is this transaction consistent with our long-term strategy of environmentally-sustainable papermaking, but also it further supports Nine Dragons' company-wide fiber sourcing requirements and global growth initiatives."
The Fairmont Mill is engaged in the business of manufacturing and distributing recycled pulp used in a wide range of products, from packaging to tissue paper. Located in the northern part of West Virginia, the Mill has an annual production capacity of approximately 218,000 metric tonnes, and is one of three pulp mills in the world that produces air-dried recycled pulp. The acquisition is expected to generate significant benefits for both the Mill and Nine Dragons. ND Paper will gain access to high quality recycled pulp and diversify its manufacturing base, while the Fairmont Mill, through an increase in capital investment, will expand its current capabilities and inject growth into the West Virginia economy, particularly in the surrounding community.
ND Paper has agreed to offer employment to Fairmont mill employees, effective upon closing of the acquisition; closing is expected to occur in the next two months and is subject to customary closing conditions and approvals.
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EMPLOYMENT OPPORTUNITIES:
* We are looking for a Production Shift Team Leader to maintain high standards, plus ensure safety policies and regulations for a company located close to Chicago's Midway Airport. If you are experienced team leader who has a four-year degree in an engineering/technical field (paper science degree preferred, and experience in recycled linerboard or corrugating medium paper mills is a plus), we are looking for someone like you! If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.
* A family owned and operated corrugated packaging solutions company in Illinois is looking for an experienced Maintenance Technician to maintain production and quality by ensuring operation of machinery and mechanical equipment. Relocation and other perks are available to the right candidate who is committed to working third shift. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.
* Are you an experienced Maintenance Mechanic and would like to work for a family owned and operated corrugated packaging solutions company that invests in the best equipment and technology? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.
* A leading company in the corrugated solutions packaging business is looking for a experienced Electrician. The right candidate will possess the following skills: electrical; hydraulic; automatic drives (basic component machines 122 to 440 volts). If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.
* An expanding company is looking for a Corporate Industrial Electro-Mechanical Engineer near Allentown, PA. Relocation is available. Do you have a storied list of unique electrical and mechanical engineering skills you're ready to take to the next level? Do you envision yourself in a corporate-level leadership role that your experience finally merits? And do you relish any opportunity to troubleshoot and solve real-time problems, all while designing and installing new services and systems that will not only ensure safety, but also turn a potentially hazardous work environment into a continuously thriving one? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.
* An expanding company is looking for hands-on Electro Mechanical Maintenance Techs in Conyers, Georgia. Preference will be given to candidates with higher education and additional certificates or training. You must be able to work any shift. Pay is negotiable with excellent perks and benefits. Relocation assistance is available to the right candidate. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.
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