Miamisburg, Ohio, and Kaukauna, Wisconsin, USA, 01 April 2010 – 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 USD 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 effect on the remainder of the NewPage Kimberly facility, as it only supplied approximately 2% 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.
Headquartered in Miamisburg, Ohio, NewPage Corporation is the largest coated paper manufacturer in North America, based on production capacity, with USD 3.1 billion in net sales for the year ended 31 December 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, and Wisconsin in the United States, and in 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.
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 6000 customers in the City of Kaukauna, Wisconsin.