As per Twin Rivers Paper Company, the decision furthers its strategy of prioritizing the growth of its core specialty papers business.
April 30, 2024
Twin Rivers Paper Company, a leading producer of specialty paper products, has announced the sale of its Pine Bluff, Arkansas unbleached kraft paper mill to American Kraft Paper Industries, an affiliate of global industrial group American Industrial Acquisition Corporation (AIAC).
As per a statement issued by Twin Rivers Paper, the terms of the transaction were not disclosed.
Twin Rivers Paper acquired the Pine Bluff kraft paper manufacturing and distribution business from the Mondi Group in 2018. In the last six years since acquisition, Twin Rivers has invested substantially in the Pine Bluff mill to enhance production efficiency and capacity while expanding its product offering.
“The decision to sell the Pine Bluff mill furthers Twin Rivers’ strategy of prioritizing the growth of our core specialty papers business. With AIAC’s founding principle of investing in the assets it acquires, we are confident the Pine Bluff business and its dedicated managers and employees will realize long-term success,” stated Tyler Rajeski, President of Twin Rivers Paper.
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“We are working with AIAC to ensure a seamless transition experience for our Pine Bluff employees, customers and suppliers,” he added.
L. M. Levie, AIAC Chairman, commented, “This highly strategic acquisition allows us to substantially expand our production and distribution of a broad range of unbleached Kraft paper.
“The Pine Bluff business, now known as American Kraft Paper Industries, will collaborate with AIAC’s Canadian Kraft Paper Industries, located in The Pas, Manitoba, permitting us to better serve our domestic and international packaging industry customers with superior speed, quality, reliability, and efficiency. We are committed to meeting our customers’ needs, 24-7-365,” he added.
Twin Rivers Paper Company, headquartered in Madawaska, Maine, is an integrated specialty paper manufacturer producing half a million tons of paper per year for the publishing, label, technical and packaging sectors.
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The company operates a pulp mill in New Brunswick and diverse paper assets in northern Maine and upstate New York that produce uncoated and coated specialty papers in a broad range of basis weights and finishes.
Customized product development and dedicated technical services support are company hallmarks. With U.S. ownership by Atlas Holdings and Blue Wolf Capital, a sound financial structure and a strong balance sheet that fuels continuous investments in its assets, Twin Rivers Paper offers its customers the security of local product availability and the assurance of long-term viability. For more information, visit www.twinriverspaper.com.
American Industrial Acquisition Corporation (AIAC) is a diversified industrial group with manufacturing and distribution sites in 24 countries in North America, Europe, and Asia.
