New-Indy Reaches Agreement for Catawba Mill
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New-Indy Reaches Agreement on New Acquisition
New-Indy JV Corp., a 50/50 joint venture between the Kraft Group and Schwarz Partners, today announced that it has reached an agreement to acquire Resolute Forest Products’ Catawba paper and pulp mill located on the Catawba River in Catawba, S.C. The Catawba Mill produces coated mechanical and specialty paper and market pulp.
New-Indy issued the following statement. “The acquisition of the Catawba Mill and additional investment in its infrastructure will establish one of the most diverse and efficient mill operations in the industry. Going forward, we are excited about the prospects for this mill to produce a diverse array of products from existing offerings like market pulp, lightweight coated papers and specialty grades to new offerings of high-quality, virgin, ultra-lightweight liner-board. The Catawba Mill will position New-Indy to fill a significant void in the domestic and international markets for these products.”
New-Indy is expected to close on the acquisition by Dec. 31.
New-Indy is a joint-venture that was formed in 2012 by the Kraft Group and Schwarz Partners, LP, two family-owned companies with long histories in paper and packaging. Today, New-Indy operates three recycled brown paper mills and eight packaging facilities throughout the United States. The Catawba Mill acquisition represents a continuation of New-Indy’s investment in growing the venture through the acquisition of strategic and synergistic companies in the paper and packaging industry.
About The Kraft Group
The Kraft Group, headquartered in Foxborough, Massachusetts, is the holding company for the Kraft family’s various businesses, with concentrated interests in five areas: paper and packaging manufacturing and the distribution of forest products; sports and entertainment; real estate and development; private equity investing and philanthropy. Together, the Rand-Whitney Group and International Forest Products conduct business in more than 90 countries and form one of the largest privately-owned paper, packaging and distribution companies in the world, trading more than 4 million tons of pulp and paper grades annually. The Kraft Group’s sports and entertainment division features Gillette Stadium, New England’s premier concert and entertainment venue and home to the National Football League’s five-time Super Bowl champion New England Patriots and Major League Soccer’s New England Revolution. For more information, visit www.thekraftgroup.com.
About Schwarz Partners, LP
Based in Indianapolis, Indiana, Schwarz Partners, LP is a privately owned company with a focus on corrugated products and logistics. The Royal Group, the packaging division of Schwarz Partners, services customers in the automotive, agriculture, industrial manufacturing and consumer goods industries throughout North America and consists of 33 locations, 12 of which are corrugated box and sheet plants. Schwarz Partners is also considered the largest producer of sheets in the U.S. with interests in 11 sheet feeder corrugator plants. Together, the sheet feeders and the corrugator box plants currently consume approximately 1.5 million tons of containerboard annually. Venture Logistics, the supply chain management company of Schwarz Partners, consists of 1,000 tractors, a brokerage division moving 2,000 loads per week and more than 1 million square feet of warehouse and cross dock space. For more information, please visit www.schwarzpartners.com.