- Associated Press - Tuesday, October 13, 2015

MOSINEE, Wis. (AP) - Wausau Paper is being sold to SCA of Sweden in a deal valued at $513 million.

The companies announced the cash deal Tuesday. Wausau Paper Chairman and CEO Michael Burandt said in a statement the deal is subject to shareholder and regulatory approval and is expected to be finalized early next year.

The Mosinee-based Wausau Paper has about 900 employees and makes commercial towel and tissue products.

SCA, headquartered in Stockholm, Sweden, is a hygiene and forest products company with about 44,000 employees. It has Wisconsin paper operations in Neenah and Menasha.

WAOW-TV (https://bit.ly/1ZzHJZ5 ) reports the move comes after Wausau Paper closed its mill in Brokaw, eliminating about 450 jobs, and shut down a Brainerd, Minnesota factory, eliminating 130 jobs.

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Information from: WAOW-TV, https://www.waow.com

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