MOSINEE, WI (WTAQ) – A Wisconsin paper company will be sold to a Swedish firm.
Wausau Paper is being sold to SCA of Sweden in a deal valued at $513 million. The companies announced the cash deal Tuesday.
Wausau Paper Chairman and CEO Michael Burandt says the deal is subject to shareholder and regulatory approval, and is expected to be finalized early next year.
The Mosinee-based Wausau Paper has about 900 employees and makes commercial towel and tissue products.
SCA, headquartered in Stockholm, is a hygiene and forest products company with about 44,000 employees. It has Wisconsin paper operations in Neenah and Menasha.
The move comes after Wausau Paper closed its mill in Brokaw, eliminating about 450 jobs, and shut down a Brainerd Minnesota factory, eliminating 130 jobs.
(Story courtesy of Wheeler News Service)
