The Gores Group Acquires Closed Mill from Weyerhaeuser
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The Gores Group, LLC, a Los Angeles, Calif., USA-based private equity firm, announced that it led an investor group in acquiring a high purity cellulose mill from Weyerhaeuser Co. Terms of the transaction were not disclosed.
Located in Cosmopolis, Wash., the high purity cellulose (or dissolving wood pulp) mill will operate under the name of Cosmo Specialty Fibers, Inc. The Gores Group will refurbish and restart the mill. Weyerhaeuser had announced closure of the mill in October 2005.
Paper and packaging industry veteran Dermot F. Smurfit, chairman of the board of Cosmo Specialty Fibers, Inc., noted that the mill's primary products, namely viscose and acetate, are currently in tight supply worldwide.
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