TACOMA, Wash. (AP) - The Simpson Tacoma Kraft paper mill in Tacoma, Wash., is being purchased by a Norcross, Ga.-based company for $343 million.
The News Tribune reports (http://is.gd/MBli1l ) that the buyer, RockTenn Co., says it plans to invest $60 million in plant improvements over the next three years. The new owner has entered into a seven-year wood chip supply agreement with the mill's present owner, Simpson Lumber Co.
The mill employs about 425 workers. RockTenn's president of corrugated packaging, Jim Porter, says that when the acquisition is complete sometime in the next quarter, RockTenn will hire all of the mill workers and managers.
The mill has two paper machines and dryers as well as a 55-megawatt power plant that produces electricity from steam created at the plant. It produces bleached and unbleached kraft paper and linerboard. The plant produces that pulp and paper using both wood chips and recycled paper and cardboard.
RockTenn has 24 paper mill properties in the U.S.
Information from: The News Tribune, http://www.thenewstribune.com