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SP Fiber Technologies Acquires SP Newsprint

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SP Fiber Technologies LLC (SPFT) announced this past week that it has acquired substantially all of the assets and certain liabilities of SP Newsprint, Dublin, Ga., USA, and its subsidiaries in a court-approved sale. SPFT will relocate the company's corporate headquarters to its facility in Dublin, from where it will operate the mills in Newberg, Ore., and Dublin, as well as its wholly-owned subsidiaries SP Recycling Southeast LLC (SPRS) and SP Recycling Northwest LLC (SPRN).

Based in Atlanta, Ga., SPRS and SPRN are recyclers of recovered paper and other recovered commodities in the Southeast and the Pacific Northwest. The two recycling companies collect, process, and ship high quality material from 21 processing facilities in nine states.

Jay Gurandiano will serve as chairman of the board, president, and CEO. He has held senior management positions at Smurfit-Stone Container Corp. and founded St. Laurent Paperboard, a specialty packaging paperboard and converting company. Gurandiano, who will also oversee SPFT's recycling businesses, has put together a senior management team made up of seasoned industry managers to lead the new company.

"We are excited about the future of SPFT and all of its businesses," said Gurandiano. "SPFT is a well capitalized company with committed and knowledgeable shareholders and an exciting strategic plan to strengthen its place in the newsprint and packaging markets. It has a strong and experienced workforce and a solid customer base to build upon. The new management team is committed to improve product and service, boost product innovation, and a build an engaged workforce with an enhanced customer focused culture. "

Gurandiano added that "while newsprint will remain the foundation of the business for the foreseeable future, the company is looking forward to aggressively developing an innovative value-added packaging component to service the paperboard, containerboard, and converting marketplaces. SPFT will focus on customer service, environmental stewardship, and technological innovation."

SPFT newsprint and paperboard mills in Dublin and Newberg produce more than one million tons, of which at least half is made from recycled fiber. Wholly-owned subsidiaries SPRS and SPRN collect, process, and ship materials from 21 processing facilities in nine states.

 

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