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Catalyst purchase of U.S. mills gets the green light

Verso Paper Corp. has reached a settlement with the United States Department of Justice that will permit the company to proceed with its acquisition of NewPage Holdings Inc., which means B.C.-based Catalyst Paper can proceed with its…

Verso Paper Corp. has reached a settlement with the United States Department of Justice that will permit the company to proceed with its acquisition of NewPage Holdings Inc., which means B.C.-based Catalyst Paper can proceed with its acquisition of two U.S. paper mills from NewPage.

Catalyst Paper anticipates a closing date for the transaction of Jan. 7. As previously announced, Catalyst will acquire the Biron paper mill in Wisconsin and the Rumford pulp and paper mill in Maine from NewPage Corporation, NewPage Wisconsin System Inc. and Rumford Paper Company.

“This acquisition enhances our long-term competitiveness and is expected to make Catalyst a stronger company more effectively positioned for the future,” says Joe Nemeth, president and CEO. “With the addition of the Biron and Rumford mills, Catalyst will be able to offer its new and existing customers a more diversified and higher-value product suite, complemented by our commitment to quality service focused on understanding and meeting our customers’ needs.”

Catalyst manufactures diverse specialty mechanical printing papers, newsprint and pulp at three mills in British Columbia.

Read more about the acquisition here.