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Madison Paper Rededicates PM3 After $52 Million Rebuild

Press release from the issuing company

MADISON, ME, November 19, 2001 – Madison Paper Industries marked the 20th anniversary of the start-up of PM3 with a rededication of the machine after its recently completed $52 million rebuild. At a two-day, company-wide meeting, Leroy J. Barry, President and Chief Executive Officer of Madison, thanked the assemblage of employees and their families, corporate board members and Madison customers for their contributions to the company's remarkable growth over the last two decades. "The fundamentals that made Madison successful through our first 20 years," he said, "will keep us successful in our next 20 years. We'll continue to keep our focus on customers, quality, service, and on helping our people work well together and develop to their full potential. Along the way, we'll take some time to have fun." David Knauer, President of Madison International Paper Sales, the company's sales organization, reviewed Madison's recently completed $52 million modernization project citing its impact in the marketplace. "Madison customers are very excited about the new Symmetry SC we're now producing on our PM3," he noted. "It has extraordinary opacity and smoothness, plus exceptional runnability that together deliver outstanding results. It's the finest Symmetry we have ever produced."

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