Pine Bluff paper mill sold

by Talk Business & Politics staff ([email protected]) 4,070 views 

American Kraft Paper Industries, an affiliate of American Industrial Acquisition Corporation, has acquired the unbleached kraft paper subsidiary located in Pine Bluff from Twin Rivers Paper Company, a leading producer of specialty paper products.

The two companies announced the sale jointly. Terms of the transaction were not disclosed.

Twin Rivers Paper acquired the Pine Bluff kraft paper manufacturing and distribution business from the Mondi Group, a multinational pulp and paper producer, in 2018. In the six years since acquisition, Twin Rivers said it invested substantially in the Pine Bluff mill to enhance production efficiency and capacity while expanding its product offering.

“This highly strategic acquisition allows us to double our production and distribution of a broad range of unbleached Kraft paper. The Pine Bluff business, now known as American Kraft Paper Industries, will collaborate with AIAC’s Canadian Kraft Paper Industries, located in The Pas, Manitoba, permitting us to better serve our domestic and international packaging industry customers with superior speed, quality, reliability, and efficiency. We are committed to meeting our customers’ needs, 24-7-365,” said L. M. Levie, Chairman of American Industrial Acquisition Corporation.

American Industrial Acquisition Corporation (AIAC) is a diversified industrial group with manufacturing and distribution sites in 24 countries in North America, Europe, and Asia.

“The decision to sell the Pine Bluff mill furthers Twin Rivers’ strategy of prioritizing the growth of our core specialty papers business,” said Tyler Rajeski, President of Twin Rivers Paper. “With AIAC’s founding principle of investing in the assets it acquires, we’re confident the Pine Bluff business and its dedicated managers and employees will realize long-term success. We are working with AIAC to ensure a seamless transition experience for our Pine Bluff employees, customers and suppliers.”

Twin Rivers Paper Company, headquartered in Madawaska, Maine, is an integrated specialty paper manufacturer producing half a million tons of paper per year for the publishing, label, technical and packaging sectors.