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In Brief / MANUFACTURING

NewPage to buy 8 paper factories

September 22, 2007|From Times Wire Services

A privately owned company that supplies paper to magazine and catalog publishers is buying the North American operations of one of the world's largest makers of paper products for about $2.1 billion.

NewPage Holding Corp., owned by private equity firm Cerberus Capital Management, has agreed to acquire eight factories from Finland-based Stora Enso Oyj and will combine those plants with its North American coated paper operations. NewPage and the Stora Enso operations being acquired each employ more than 4,300.

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