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 linerboard. 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.