Wingate Partners ("Wingate"), a Dallas-based private equity firm, completed the sale of its portfolio company, Dunn Paper, Inc. to Arbor Investments , a Chicago-based private equity firm. Dunn is a U.S. leader in made-to-order specialty papers and tissues for food packaging and consumer product markets. Wingate partnered with the Dunn management team to acquire the business in July 2010. During the subsequent six years, Dunn built an outstanding foundation and executed a transformative acquisition to offer even more unique value to its market-leading customers. "Brent and the Dunn team have done an outstanding job of executing day in and day out to achieve a compelling vision. They are first class people and world class operators. It's been a privilege to partner with them," said Brad Brenneman, Chairman of Dunn and a Partner at Wingate.
Statkraft and Norske Skog Skogn AS and Norske Skog Saugbrugs AS have entered into new long-term industrial power supply agreements for the period from 1 December 2018 to 31 December 2026. The total delivery will be about 14 TWh, with annual deliveries of approximately 900 GWh to each mill.
The contracts will contribute to the supply of power to Norske Skog’s paper mills in Skogn and Halden, and will replace previous contracts between Statkraft and Norske Skog.
“We are pleased to extend our comprehensive and long-term cooperation with Norske Skog. Norske Skog has been through a period with demanding challenges and group restructuring. Statkraft has been the main supplier of power to Norske Skog for many years, and it is a pleasure that we contribute to predictable and competitive power supply agreements, “said Hallvard Granheim, Executive Vice President of Market Operations & IT at Statkraft.
“The new contracts improve the competitiveness of our two major plants in Norway, and will at the same time be a contribution to ensuring important jobs in the processing of Norwegian raw materials. In a paper market with steadily falling demand, only mills with the lowest cost position and the most efficient operation will survive. Therefore, we are also dependent on improving the Norwegian political framework conditions and ensuring favourable purchasing terms from other suppliers to Norske Skog, “says Niels Petter Wright, CEO of Norske Skog.