20 January 2009
UPM sells Miramichi mill and assets
MIRAMICHI, N.B.—UPM-Kymmene sold its shuttered Miramichi mill and related assets to Norway-based solar company Umoe Solar AS, the company announced last week. The price was not disclosed, but the sale included the mill, woodlands operations, a groundwood pulp mill, and two sawmills. The mill was closed in Dec. 2007, as part of an initiative to cut magazine and newsprint capacity, along with yearly costs. Miramichi had an annual capacity of 450,000 tonnes of magazine grade paper, and more than 500 employees lost their jobs.
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