Twin Rivers Paper Company announced on Tuesday that it has acquired a New York-based Potsdam Specialty Paper Inc.
The acquisition adds 26,000 tons to the half-million tons of paper Madawaska-based Twin Rivers produces annually, according to the company.
PSPI’s mill in Potsdam, New York, manufactures paper used in tape, wallpaper backing, sandpaper, labels, book covers, and medical applications.
Twin Rivers, owned in a controlling share by Atlas Holdings and Blue Wolf Capital, produces paper for the publishing, label, technical and packaging sectors. It operates a pulp and paper complex in Madawaska and neighboring Edmundston, New Brunswick.
The company also has two paper mills in Little Falls, New York, and one in Lyons Falls, New York. The Potsdam mill is the furthest north of the New York mills, located less than 20 miles from the St. Lawrence River.
No immediate changes are planned to staffing or operations as a result of the acquisition, according to Caryn King, vice president of strategic marketing for Twin Rivers.
“Our immediate attention is on a smooth and seamless transition for our 70 new Twin Rivers Paper team members and of course our Potsdam customers and other business partners,” King said.
