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Report on Business Resolute signs deal to sell West Virginia pulp mill for US$55-million

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Resolute signs deal to sell West Virginia pulp mill for US$55-million

MONTREAL
The Canadian Press
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Resolute Forest Products Inc. has signed a deal to sell its recycled bleached kraft pulp mill in Fairmont, W.Va., for US$55 million.

The company says ND Paper LLC, a subsidiary of Nine Dragons Paper (Holdings) Ltd., has agreed to buy the mill.

Nine Dragons has nine paper mills in Asia as well as two U.S.-based facilities.

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It produces a variety of packaging paperboard products as well as recycled printing and writing paper and specialty paper.

ND Paper has agreed to offer employment to the Fairmont mill employees.

Resolute owns or operates some 40 manufacturing facilities, as well as power generation assets, in the United States and Canada.

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