Pratt Industries to Open Wapakoneta 100% Recycled Containerboard Mill

SEATTLE (Scrap Monster): Pratt Industries announced that it plans to open its new containerboard mill in Wapakoneta, Ohio in October this year. The plans for the mill was announced earlier in 2017, as part of the company’s drive to expand its U.S. operations. The construction works had begun in March last year.

The new mill in the state of Ohio is expected to have a capacity of 36,000 metric tonnes per year of corrugated medium and linerboard made out of recycled fibre. The new facility is being constructed at an investment of approximately $275 million, which is mainly financed through a $210 million municipal revenue bond issued by the Ohio Air Quality Development Authority. The money was handed over to Pratt paper (OH) LLC in the form of a loan, which in turn was used to finance the project. The remaining $65 million was provided from equity.

ALSO READ: Pratt industries Declares Major Investment in New Virginia Plant

Meantime, media reports indicate that President Donald Trump plans to visit the 100% recycled containerboard mill facility on Sunday, Sep 22. The White House report says that he will be accompanied by the Australian Prime Minister Scott Morrison. The President’s visit of the facility aims to underscore the strong trade and investment relationship between the U.S. and Australia. It must be noted that Pratt Industries, Inc. is a U.S. subsidiary of the Australian firm Visy Industries.