A federal judge has ruled Verso Paper's agreement to sell mills in Rumford and Biron, Wisconsin, was sufficient to settle antitrust complaints stemming from its $1.4 billion purchase of larger competitor NewPage.
Expera Specialty Solutions in September announced its plan to close the pulp mill around the end of 2015, about a year after it bought the facility for $10.5 million in a bankruptcy auction.
Rengo announced that its consolidated subsidiary, Osaka Paper has decided to withdraw from the newsprint and printing paper business at the end of March 2016.
Total shipments of printing and writing paper decreased 8.0% in October, compared to the same month of 2014. Total printing-writing paper inventory levels fell 3.0% from September.
A representative with American Iron and Metal says construction crews will be taking down the structural walls of warehouses first and then move to the remaining buildings.
Gordon Brothers is not likely to try to find a buyer for the mill that would allow it to continue making tissue, said Jeffrey Young, an attorney for the United Steelworkers.
The sale of Cape Kraft Mill, along with the sale of Enstra Mill which was completed earlier this month, signals Sappi's exit from the recycled paper packaging market, a market where Sappi did not enjoy any competitive advantage.
