The results of Harnischfeger Industries Inc.’s auction of the assets of its subsidiary, Beloit, WI-based Beloit Corp., have been made public. For example, Montreal-based Groupe Laperrierre & Verreau…
The results of Harnischfeger Industries Inc.’s auction of the assets of its subsidiary, Beloit, WI-based Beloit Corp., have been made public. For example, Montreal-based Groupe Laperrierre & Verreault Inc. gained the Pulp and Finishing Division and Charlotte, NC-based Valmet Inc. paid $160 million (US) for the Paper Aftermarket and Roll Covers Division. The Chapter 11 process must still gain approval from the Bankruptcy Court and competition authorities.
St. Laurent Paperboard, Montreal, QC, has completed the acquisition of the assets of The Kimball Companies in East Longmeadow, MA, through its subsidiary, Eastern Container Corp. Kimball has been a leading maker of protective packaging, including triplewall, foam, wood and corrugated products.
CXY Chemicals, a subsidiary of Calgary-based Canadian Occidental Petroleum Ltd., has acquired a 35 000-tonne-per-year (t/y) sodium chlorate plant and a 32 000-t/y chlor-alkali plant from Aracruz Cellulose SA of Brazil. The purchase price of the plants, which produce chemicals to bleach pulp from eucalyptus trees, was not disclosed.
Fletcher Challenge Ltd., Auckland, New Zealand, has said it will dismantle the Group’s targeted share structure and establish separate entities. The company expects to complete the process by December 2000.
Kruger’s Corner Brook, NF, mill will rebuild its PM 7 top wire unit using Voith Sulzer’s DuoFormer(tm) D. PM 7 has a wire width of 7390 mm and is designed to produce newsprint at 1200 m/min in a basis weight range of 40 to 50 gsm. Scheduled installation of this rebuild is October 2000.
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