Nov. 10, 2017 – Today the paper mill in The Pas, Man., is celebrating its first anniversary after being purchased by Canadian Kraft Paper Industries Ltd., an affiliate of American Industrial Acquisition Corp. (AIAC), on November 10, 2016.
The acquisition and turnaround of the mill was accomplished through the collaboration of government, labour, suppliers, customers and private investors, noted the mill.
Located in The Pas, Man., Canadian Kraft Paper Industries manufactures high quality unbleached kraft extensible papers sold globally for various packaging applications.
“It’s exciting times at Canadian Kraft Paper! We have a five-year strategic plan for continued investments in capital projects that will see the mill evolve as we continue to produce the highest quality kraft paper grades in the world,” said Andre Murphy, mill manager. “We just completed a significant equipment refurbishment and modernization program, which included many new upgrades to improve equipment reliability and performance, to ensure our long term sustainability in this industry.”
These investments include boiler upgrades and a new high-speed camera system, both implemented within the past year.
“Looking back a year ago, we had no paper orders, no contracts in place for our fibre supply, a concerned, uncertain workforce and a mill that needed major maintenance,” said Jeff Sands, senior advisor for AIAC.
“We had to start from scratch,” added Tony Zandos, senior vice president, AIAC. “Fast forward one year, and we have a strong order book, abundant fibre supply and we’ve completed major financing and equipment refurbishment programs. This is a great success story.
“We look forward to a strong future together.”
“This is good news for the employees, the suppliers, the customers, the community, and the province. I’m proud to be a part of it. Financially we are on the right path forward,” said Ann Evans, CFO for Canadian Kraft Paper.
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