ND Paper to Purchase Resolute Kraft Pulp Mill In West Virginia
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ND Paper LLC ("ND Paper"), headquartered in Oakbrook Terrace, Ill., USA, as a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited ("Nine Dragons"), headquartered in China, announced this Thursday morning (Aug. 30, 2018) that it has entered into a definitive asset purchase agreement with Resolute Forest Products (Montreal, Canada), pursuant to which Nine Dragons will acquire Resolute's recycled bleached kraft pulp mill located in Fairmont, W. Va., USA, for $55 million plus certain elements of working capital, payable in cash.
Nine Dragons plans to fund the acquisition through existing cash on its balance sheet..
