Burrows Paper Corp. sells packaging operations to Novolex
A New York company is in the process of purchasing Burrows Paper Corporation in Fort Madison, but according to one spokesperson, the employees at the facility have nothing to be concerned about.
According to Burrows Paper Corporation President and Chief Operating Officer Phil Paras, no changes in the company are anticipated.
“The rationale for the transaction is to effectively support the level access growth strategy,” Paras said. “Burrows Paper will be able to supply Novolex with additional horsepower to support that growth.”
Paras said people working at Burrows Paper should have no concern about their employment.
According to a press release, Burrows Paper Corporation has agreed to sell its Packaging Division operations to Novolex™ and sell its Paper Division operations to Twin Rivers Paper Company. Burrows is a privately owned, worldwide supplier of paper and packaging solutions, specializing in light weight paper applications and new product development. Based in Little Falls, New York, Burrows’ associates operate four paper mills and six packaging converting facilities. The company has been in operation for nearly 100 years. The transactions are expected to close in the fourth quarter of 2016.
Novolex is one of North America’s leaders in packaging choice and sustainability, serving retail, grocery, food service, hospitality, institutional and industrial markets. It will acquire the operations located in Ft. Madison; Franklin and Mt. Vernon, Ohio; Reno, Nevada; Kerkrade, the Netherlands; and Heshan, China. Twin Rivers Paper Company, headquartered in Madawaska, Maine, is an integrated specialty paper company that produces specialty packaging, label and publishing papers, as well as dimensional lumber. Twin Rivers will acquire operations located in Little Falls and Lyonsdale, NY, and Pickens, Miss.
“Our decision to sell Burrows to these two great companies is the right one for the continued success of our customers, employees and communities,” Paras. “I’m confident that our people are positioned to truly prosper and grow with Novolex™ and Twin Rivers.”
Stan Bikulege, Chairman and CEO of Novolex said, “As we look forward to the integration of the Burrows Packaging Division team and business into the Novolex family, there’s a lot to be excited about. From the more than 400 new and talented team members who will join us to the technology and global reach of Burrows, this acquisition will enhance our ability to serve our customers and expand our horizons in many ways.”
“Twin Rivers is a nimble, high quality, integrated forest products company and we are very pleased to acquire the Burrows Paper Division and welcome its skilled associates,” said Bob Snyder, CEO of Twin Rivers Paper Company. “As a market leader today in the lightweight packaging, publishing and label markets, this transaction strategically builds upon that foundation and is fully consistent with our business’ focus, short and long-term.”