Wausau-Mosinee Paper Acquires Assets of Laminated Papers
Press release from the issuing company
MOSINEE, WI -- March 5, 2003 -- Wausau-Mosinee Paper Corporation today announced that it has acquired the production assets and customer base of Laminated Papers, Inc., a producer of high-quality packaging materials for the paper industry. The assets will become part of Mosinee Converted Products, a division of the company’s Printing & Writing Group. Terms of the transaction were not disclosed.
Based in Holyoke, Mass., Laminated Papers has produced innovative roll-wrap products since 1953 and pioneered the blending of wax laminates to replace asphalt-laminated papers, the previous industry standard. Laminated Papers’ production will be transitioned to Mosinee Converted Products’ facilities in Wisconsin and Mississippi, allowing for increased equipment utilization and improved cost efficiencies.
“Laminated Papers is a welcome addition to the Wausau-Mosinee family. This acquisition will further solidify our leadership in the laminated roll-wrap market and improve our cost position when volume is relocated to our existing facilities,” said Thomas J. Howatt, Wausau-Mosinee’s president and chief executive officer. “Over the past two years, we’ve improved our earnings and balance sheet significantly; as results further improve, we will look to grow the company through bolt-on acquisitions like Laminated Papers.”
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