Cascades has won the auction to acquire certain of the assets of Orchids Paper Products in proceedings before the United States Bankruptcy Court for the District of Delaware . Cascades agreement in such regard is subject to approval by the Bankruptcy Court at a hearing scheduled for July 1 st . The transaction, which will be completed for a cash consideration of US$207 million, will cover substantially all the company's assets, including the Barnwell , South Carolina and Pryor, Oklahoma operations, as well as certain equipment and various of Orchid's Paper commercial arrangements with Fabrica de Papel San Francisco , S.A. de C.V., based in Mexicali, Mexico , and certain affiliates thereof. Orchid Paper's integrated plants have an estimated parent roll capacity of up to 114,000 tons and an estimated converting capacity of up to 114,500 tons. Additionally, Orchids Paper has an agreement with Fabrica providing access for up to 20,000 tons of converted products for the Western U.S. market. Orchids Paper has invested more than US$240 million in its assets and strategic supply arrangement with Fabrica over the past five years. Click Read More below for additional information.
JOOL Invest AB has become a co‐investor in Zanders Paper GmbH. The Swedish company with subsidiaries mainly within paper, wood products and finance industries, has a clear industrial mindset and will be an active partner bringing further experience and capital creating a strong foundation for the planned growth of Zanders Paper.
Zanders Paper will continue with all core products Chromolux, Zanlabel, Zanbarrier, Zanpack, Zanjet, Silver Digital and RX Nature. In addition, it is planned to introduce further grades in the coming months.