Billerud announced that it has reached terms with the Capital Recovery Group, LLC (CRG, LLC) for the sale of the idled Wisconsin Rapids Mill and related assets.
Billerud will continue to own and operate the Wisconsin Rapids Converting Facility, keeping more than 130 jobs in the community.
This decision follows the company’s extensive and exhaustive exploration of viable and sustainable alternatives for the mill since its idling in July 2020. The transaction is expected to close in April 2024.
The company reaffirms its commitment to owning and operating the Wisconsin Rapids Converting Facility. This facility plays an important role in converting rolls of paper made at its two Michigan mills into folio and digital sheets, as well as sheeting cartonboard imported from its European mills. The converting facility and two Michigan mills strategically position Billerud to deliver exceptional products and services quickly, efficiently and cost-effectively to its network of valued customers.
During the interim period preceding the closure, Billerud has authorized CRG, LLC to begin promoting a public auction for certain idled and obsolete equipment. This auction will occur following the transaction close.
Billerud is one of the leading manufacturers of packaging paper made from virgin fibers.
