Twin Rivers Announces Price Increase on Specialty Products
Please be advised that effective with shipments on or after January 12, 2018, Twin Rivers Paper Company will be implementing a US $50.00/ton price increase on all Packaging, Technical, and Label grades.
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Appvion Receives Court Approval of Sale to Lender Group Led by Franklin Advisers
Appvion, Inc. announced that the U.S. Bankruptcy Court for the District of Delaware approved the sale of substantially all of the Company's assets to a group of its lenders led by Franklin Advisers, Inc. The sale is expected to be completed by the end of May. The Purchaser submitted the previously announced stalking horse bid on February 8, 2018. Under the terms of the executed asset purchase agreement filed with the Bankruptcy Court, the total consideration is approximately $340 million plus the assumption of substantial liabilities, including many of the Company's contractual obligations. The transaction will substantially reduce Appvion's debt from approximately $585 million to less than $175 million and provide additional liquidity to fund the Company's operations. Kevin Gilligan, Chief Executive Officer of Appvion, said, "We are pleased to receive the Court's approval of the sale of our company to a group of our lenders who have been long-term supporters of Appvion. Their continued investment is a vote of confidence in the future of our business." Click Read More below for additional information.
Kruger Energy Begins Construction of 196 MW Wind Farm
Kruger Energy has begun construction of the Saint-Paul-de-Montminy wind farm in Quebec, a project with an installed capacity of 196 MW and an investment of more than $580 million.
The facility is being developed across the municipalities of Saint-Paul-de-Montminy, Notre-Dame-du-Rosaire and Sainte-Apolline-de-Patton and is expected to begin operations in December 2027.
The project is being carried out in partnership with the Alliance de l’énergie de l’Est and Potentia Renewables. Following the completion of regulatory approvals, construction activities have entered the implementation phase.