Norwalk - MYLLYKOSKI has completed an agreement to sell its Madison Paper Company Alsip Mill to the Watermill Group. The Watermill Group is a private equity firm, headquartered in Lexington, Massachusetts.

The Alsip mill has a coated publication papers capacity of 150,000 short tons, and the mill employs 148 people.

During a transition period, both companies will work collaboratively to ensure the service levels and product quality our customers have received from Myllykoski North America.

The parties have agreed not to disclose the terms of agreement.

Myllykoski will continue to serve the North American market with its uncoated publication papers from its Madison Paper Industries Mill in Maine and its broad publication product mix from its group mills in Europe.  The Madison mill serves the North American Market with superior SC qualities.  Madison Paper Industries (Maine) is a joint venture since 1979 with the New York Times Company.