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NewPage Completes Sale of Niagara, Wis., Mill Property, Assets

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NewPage Wisconsin System Inc., a wholly-owned subsidiary of NewPage Corp., Miamisburg, Ohio, USA, announced this week that Niagara Development LLC, Niagara, Wis., has acquired the NewPage Niagara mill property and assets. NewPage Niagara permanently closed in July 2008 due to a significant decrease in demand for coated paper.

The paper machines at the Niagara mill produced approximately 250,000 tpy of lightweight coated groundwood papers used in magazines and catalogs. In March 2009, NewPage sold its hydroelectric facility in Niagara to Northbrook Wisconsin LLC.

"Since the closure of the mill in 2008, NewPage has worked with the City of Niagara to locate a viable purchaser for the mill with a positive outcome for the community," said George Bousley, mayor, City of Niagara. "We are pleased that Niagara Development LLC is purchasing the NewPage Niagara property and assets and believe this is the best possible option for the facility, the City of Niagara, and its residents."

Niagara Development is exploring options with the City of Niagara and others for possible uses of the property and assets going forward. "We see this deal as a great opportunity for the towns of Niagara, Iron Mountain, Kingsford, Quinnesec, and Norway, as well as the surrounding region," says Eric J. Spirtas, president of Niagara Development.


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