NewPage Wisconsin System Inc. and Kaukauna Utilities announced today the completion of the sale of the NewPage hydroelectric facility in Kimberly , Wisconsin to Kaukauna Utilities. The facility has 2.7 megawatts of installed capacity; Kaukauna Utilities paid $6.1 million for the assets.
Kaukauna Utilities, a community-owned utility founded in 1912, owns and operates seven additional hydroelectric facilities on the Fox River with a total installed capacity of 23.0 megawatts.
The sale of the hydroelectric facility has no material impact on the remainder of the NewPage Kimberly facility, as it only supplied approximately two percent of the mill's required electric during periods of mill operation. NewPage continues to work with Sanabe & Associates to help identify a qualified buyer for the Kimberly mill.
Sanabe & Associates, LLC, acted as exclusive financial advisor to NewPage in the transaction.
About NewPage Corporation
Headquartered in Miamisburg , Ohio , NewPage Corporation is the largest coated paper manufacturer in North America , based on production capacity, with $3.1 billion in net sales for the year ended December 31, 2009. The company's product portfolio is the broadest in North America and includes coated freesheet, coated groundwood, supercalendered, newsprint and specialty papers. These papers are used for corporate collateral, commercial printing, magazines, catalogs, books, coupons, inserts, newspapers, packaging applications and direct mail advertising.
NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a total annual production capacity of approximately 4.4 million tons of paper, including approximately 3.2 million tons of coated paper, approximately 1.0 million tons of uncoated paper and approximately 200,000 tons of specialty paper. To learn more, visit www.NewPageCorp.com.
About Kaukauna Utilities
Kaukauna Utilities, www.ku-wi.org is a community-owned and operated utility that provides electric service to 15,000 customers in the City of Kaukauna , Villages of Little Chute and Combined Locks and portions of the Towns of Vandenbroek, Buchanan, Wrightstown, Freedom, Kaukauna, Oneida and Holland . Kaukauna Utilities also provides water service to more than 6,000 customers in the City of Kaukauna .
Media Contacts:
Shawn Hall
NewPage
937-242-9373
Jeff Feldt
Kaukauna Utilities
920-462-0218