Weyerhaeuser Completes Sale of Norpac to One Rock Capital Partners
Print this Article | Send to Colleague
Weyerhaeuser Co., Seattle, Wash., USA, this week completed the sale of its North Pacific Paper Company (NORPAC), the company's printing papers business, to an affiliate of One Rock Capital Partners LLC, New York, N.Y. The transaction includes the printing papers mill located in Longview, Wash.
Weyerhaeuser expects to use a substantial portion of the after-tax proceeds for the repayment of debt.
The transaction was initially announced in early October 2016 and financial terms of the transaction were not disclosed.
Located in Longview, Wash., NORPAC is a leading manufacturer of newsprint and various publication paper products. The company, which was established as a joint venture between Weyerhaeuser and Nippon Paper Industries, Japan, supplies products to customers throughout North America and internationally.
The company will be led by CEO Craig Anneberg, who previously served as the mill manager and has worked within the Weyerhaeuser organization for more than 35 years. Anneburg will be joined by an experienced management team who have all held senior leadership positions at NORPAC for the past several years.
