Neenah Paper, Inc. announced that it had completed the previously announced purchase of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products. Upon closing, the Company made a cash payment of approximately $45 million. The payment was financed through almost $14 million of available cash on hand, with the balance from incremental borrowing against the Company's existing global revolving credit facility. Interest rates on the additional short term debt were under two percent.
RISI reports that Lecta and Burgo are separately raising prices by 6% to 7% on CWF and UWF grades effective with deliveries from July 2018 onward.
The board of Norske Skogindustrier ASA has decided to use the 30-day interest payment grace periods on its existing senior notes due in 2026 and the Norwegian Securitization Facility due in 2020 (the "NSF"), thereby postponing interest payments of about EUR 5 million, to support the operating business. Norske Skog will use the 30-day grace periods to continue constructive discussions with all stakeholders regarding its ongoing effort to achieve a consensual recapitalization transaction for the Norske Skog group. The company will continue to follow and evaluate the situation thoroughly before the end of the grace periods, said Mr. Lars P.S. Sperre, President and CEO of Norske Skog.
Verso Corporation (OTCPink: VRSZQ), a leading producer of flexible packaging, technical, and label and converting papers, today introduced GlazeSil™, a specialized family of lightweight uncoated, machine glazed release liner papers specifically designed for hygiene and medical applications. "This exciting addition to Verso's industry leading release liner product portfolio gives producers of hygiene, medical and personal care products more options than ever to meet their unique converting performance, reliability and silicone coating requirements," said Mike Weinhold, Verso Senior Vice President of Sales, Marketing and Product Development. "You can count on GlazeSil™ to deliver the functionality and features required to innovate and differentiate in these markets."