HANOVER, Va. (AP) - A Canadian paper company will invest $275 million to manufacture recycled products at a Virginia plant that closed more than a year ago.
News outlets quote Hanover County officials in Thursday reports as saying that Cascades Inc. is acquiring the Bear Island paper mill for more than $30 million from its owner. The Kingsey Falls, Quebec, company is buying the 600,000-square-foot (60,000-square-meter) plant from Connecticut-based White Birch Paper Co.
Gov. Ralph Northam says in a statement that Cascades’ investment will create 140 jobs. Roughly 165 employees had lost their jobs when White Birch halted production at the mill last year.
Cascades spokesman Hugo D’Amours says White Birch will operate the site as a newsprint mill under a 27-month lease. Cascades will start producing containerboard for packaging boxes there in 2021.
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