Nine Dragons sews up Rumford, Biron mills

ON JUNE 29, 2018, ND PAPER LLC, A WHOLLYowned subsidiary of Hong Kong-based Nine Dragons Paper (Holdings) Ltd. completed its acquisition of the Rumford, ME, and Biron, WI, pulp and paper mills from Vancouver, BC-based Catalyst Paper Corp. for $US175.0 million.

The two mills’ combined capacity is nearly 900,000 tonnes (kt) on five paper production and two kraft pulping lines producing coated one-side, coated freesheet, coated groundwood and hardwood and softwood market pulp. The mills’ employees as well as the associated staff in Dayton, OH will join ND Paper.

Nine Dragons says it is the largest containerboard producer in Asia with nine mills and 39 machines with total capacity of over 14 Mt/y. During the 12 months ended December 31, 2017, company revenues were 45.7B renminbi (RMB) ($US6.8B) with operating income of RMB 9.8B ($US1.4B) and net income of RMB 6.8B ($US1.0B). Nine Dragons, established in 1995, was listed on the Hong Kong Stock Exchange in 2006. At May 24, 2018, its market capitalization was about $HK58.2B ($US7.4B).

http://us.ndpaper.com,www.ndpaper.com.

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