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Sell but Not Sell Out

Neenah Paper Inc. has reiterated its intention to sell its Pictou kraft pulp mill in Abercrombie Point, Nova Scotia…

Neenah Paper Inc. has reiterated its intention to sell its Pictou kraft pulp mill in Abercrombie Point, Nova Scotia within the next year. The single-line, 325-employee strong Pictou mill is the only kraft mill on its books. That, combined with the higher Canadian dollar and a reduced supply of woodchips, are the strategic reasons stated by Neenah for putting the 260,000 tonne/year mill (and all its woodland assets in Nova Scotia) on the block. However, until a buyer appears, Neenah Paper VP of financial analysis Bill McCarthy says there in no plan to shut it down.