For $19.5 million, Fraser Papers is hoping to increase its annual earnings by roughly $4 million. The company bough…
For $19.5 million, Fraser Papers is hoping to increase its annual earnings by roughly $4 million. The company bought manufacturing and mobile equipment for its U.S. pulp and paper facilities, supplies its was previously leasing under sale-leaseback arrangements with third parties.
The purchase is part of Fraser Papers’ movement to remove Norbord from various guarantees the company committed to before the two companies separated in June 2004. Fraser Papers announced earlier that it plans to buy approximately $69 million of leased assets during 2005. As of now, the company has wrapped up $53 million of the $69 million of lease acquisitions this year.
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