MOSINEE, Wis.--Oct. 21, 2004-- Wausau Paper announced today that it has completed the purchase of the assets of Missota Paper Company, LLC, a specialty manufacturer of high-quality uncoated freesheet paper, for $9.6 million. The assets will become part of the company's Printing & Writing business segment.
The acquisition includes Missota's facility in Brainerd, Minn. The Brainerd mill contains two paper machines and finishing equipment capable of producing approximately 170,000 tons per year of uncoated freesheet paper. Wausau Paper is targeting a mid-November start-up of the mill's largest paper machine, capable of producing up to 90,000 tons per year of premium printing and writing paper. No timetable has been established for the start-up of Brainerd's second paper machine.
"We are committed to putting Wausau Paper on a growth track and will continue to target higher-margin niche and emerging markets," said Thomas J. Howatt, president and CEO. "The Brainerd acquisition is consistent with that strategy, bringing with it the capability and scale to expand our sales of higher-margin premium printing and writing papers."
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