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Mohawk Signs Agreement to Buy International Paper Fine Papers Business |
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[COHOES, NY] — Mohawk Paper Mills announced it has signed an agreement to buy the Fine Papers business from International Paper. Mohawk announced in December 2004 that it had signed a non-binding letter of intent to purchase the business from International Paper. With a definitive purchase agreement now in place, the companies expect to close on the transaction early in second quarter of 2005, subject to various closing conditions. The Fine Papers Business includes the writing, text and cover papers and artist papers segments. Included in the sale are the Hamilton, Ohio, paper mill, with an annual production capacity of approximately 65,000 tons; the Saybrook, Ohio, converting center; and the Westfield, Mass., Artist Papers converting operation. The purchase will also include the Strathmore®, Brite Hue®, Via® and Beckett® brands. Mohawk Paper Mills, Inc. is a leader in the manufacture of premium printing and imaging papers. From its flagship grade, Mohawk Superfine™, to proprietary Inxwell® products, Navajo® and Options® to Mohawk Color Copy™, Mohawk engineers its papers to provide optimal performance for sheetfed, web and digital printing. A leader in environmental stewardship, Mohawk is one of the first large-scale production facilities in the U.S. to use non-polluting, wind energy to manufacture paper. Several of Mohawk’s recycled products have been certified by the Forest Stewardship Council [FSC] and Green Seal. For more information about Mohawk, please call 1-800-THE MILL. Press Information: Client Contact: Agency Contact:
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