Sofidel Reached Agreement to Acquire Duluth, Minnesota Paper Mill

SEATTLE (Scrap Monster): Sofidel- the leading European tissue paper manufacturer announced acquisition of a paper mill located at Duluth, Minnesota from ST paper. The financial details of the transaction were not revealed. The acquisition further accelerates Sofidel’s growth path in the country.

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The acquired plant is equipped with state-of-the-art technologies. The estimated production capacity of the plant, which employs nearly 80 people, is around 65,000 metric tonnes per year. The investment is expected to help Sofidel meet the rising demand for its products in the U.S. The paper manufacturing group is popularly known in Italy and Europe for its Regina.

Commenting on the acquisition, Luigi Lazzareschi, CEO, Sofidel stated that the acquisition allows the company to meet the growing demand, which witnessed significant upturn during the previous year. The acquisition will improve its geographic coverage and create conditions to strengthen and sustain growth in the U.S., he added.

The company had recently announced an organic growth investment towards expansion of its Ohio integrated plant, which in turn is expected to make it the company’s largest production site in the world.