A paper company based in Madawaska intends to acquire a mill in Arkansas.
Twin Rivers Paper Co. announced Wednesday that it has an agreement to buy a mill in Pine Bluff, Arkansas, that makes unbleached kraft paper, the kind of brown commercial paper used in packaging food, agricultural and industrial products.
Terms were not disclosed.
Twin Rivers, which is owned by investment firms Atlas Holdings and Blue Wolf Capital, said the acquisition should be completed in the second quarter.
The Arkansas mill is owned by Mondi Group, an international packaging and paper company based in Austria that operates predominantly in Russia, South Africa and central Europe.
Twin Rivers invested $12 million to upgrade its Madawaska mill in 2016, and moved its research and development operations from Montreal to Orono.
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