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April 5, 2018

Twin Rivers Paper to buy Arkansas paper mill

Courtesy / Twin Rivers Paper Co.
Courtesy / Twin Rivers Paper Co.
Industrial multiwall bags made with unbleached kraft paper is an example of the type of unbleached kraft papers with a variety of food, agricultural and industrial applications that are made at the Pine Bluff, Ark., mill to be acquired from the Mondi Group by Twin Rivers Paper Co., which is headquartered in Madawaska.

Twin Rivers Paper Co. LLC, headquartered in Madawaska, announced Wednesday it has entered into an agreement to acquire a paper mill in Pine Bluff, Ark., owned by Mondi Group.

According to a company press release, the acquisition is anticipated to be completed in the second quarter of 2018. Terms were not disclosed.

The Pine Bluff mill to be acquired makes "multiwall" bags for food, agricultural, and industrial uses.

Twin Rivers produces specialty packaging, label, publishing, and technical specialty papers as well as dimensional lumber. It is owned jointly by Atlas Holdings LLC and Blue Wolf Capital.

"The proposed transaction will provide a logical grade-line extension to our current offerings and clear evidence of our ongoing commitment to enhance the value we provide to our customers," Twin Rivers President Ken Winterhalter said in the release.

Mondi is a packaging and paper group, employing 26,000 people in over 30 countries.

In 2016, Twin Rivers invested $12 million to upgrade its Madawaska mill, and moved its research and development operations from Montreal to Orono. Twin Rivers also operates a pulp and energy complex in Edmundston, New Brunswick, across the St. John River from Madawaska, and a lumber mill in Plaster Rock, New Brunswick, about 75 minutes from Madawaska.

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