Verso Paper Mill in Wisconsin Rapids. Image courtesy: WAOW TV
WISCONSIN RAPIDS, WI (WSAU-WAOW) – The idled Wisconsin Rapids Mill is being sold. The sale to Capital Recovery Group, LLC, is expected to be finalized next month.
According to a news release from Billerud, the company said it will continue to operate the Wisconsin Rapids Converting Facility. The Rapids Mill has sat idle since July 2020.
“We look forward to finalizing the transaction in the near future and continuing to invest in the converting operation at the site,” said Tor Lundqvist, Billerud’s Deputy President and Senior Vice President of Operations for North America.
Added Kevin Kuznicki, Billerud’s President and General Counsel for North America: “We are proud of the significant role the mill has played in the paper and pulp industry’s history and our longtime record of community involvement and partnership. We look forward to continuing our community support with the ongoing operation of the Wisconsin Rapids Converting Facility, keeping more than 130 jobs in the area, as well as indirectly supporting thousands of jobs throughout our supply chain.”
During the interim period preceding the closure, Billerud, has authorized CRG, LLC to begin promoting a public auction for certain idled and un-needed equipment. This auction will take place after the transaction close.
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