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【seo教程】The NewPage Acquisition of Stora Enso''s North Americ

北京seo 2021-01-02 12:15 seo技术 128次


  MIAMISBURG, Ohio, Dec. 21 /PRNewswire/ -- NewPage Corporation today announced the completion of the previously-announced acquisition of Stora Enso Oyj''s (NYSE: SEO - News) North American paper manufacturing operations.

"NewPage, majority owned by Cerberus Capital Management, completed the $2.556 billion financing arranged by Goldman Sachs in one of the most difficult credit markets in memory," said Mark A. Suwyn, NewPage Chairman and Chief Executive Officer. "This speaks well of the soundness of the business combination, the quality of the management team, and the strength of the support we''ve received from Cerberus and Goldman Sachs. This news is very exciting for the business. We''ve achieved regulatory approvals and other milestones more quickly than anticipated, and therefore were able to close ahead of schedule."

The combined product portfolio is the broadest in North America. The new organization will have approximately $4.3 billion in pro forma net sales for the last twelve months ended September 30, 2007, and exceptional platforms in the company''s core businesses including coated freesheet, coated groundwood, supercalendered and specialty papers. These papers are used for corporate collateral, high-end advertising brochures, magazines, catalogs, books, coupons, inserts, packaging applications and direct mail advertising.

"We have an excellent senior leadership team in place and are creating new opportunities for our employees to grow and succeed. We know there are many challenges ahead of us, but we believe we''re well positioned for success and look forward to making the company prosper and grow," said Richard D. Willett, President and Chief Operating Officer of NewPage. "With this combination and the powerful businesses it creates, NewPage has improved its ability to meet the needs of its customers with the high quality customer service and products they''ve come to expect from both companies. This should also enable us to deliver higher returns on investment and meet our return on capital goal. Our plan to achieve $265 million in annualized cost synergies is just the first step toward that goal."

NewPage operates 12 paper mills with 26 paper machines located in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a total annual production capacity of approximately 5.5 million tons of paper, which includes 4.3 million tons of coated paper, 920,000 tons of uncoated paper, 300,000 tons of specialty paper, as well as 3.2 million tons of pulp. NewPage is now the largest manufacturer of coated paper in North America, based on capacity. Additional information about the company, locations and products is available on the NewPage Web site,

Goldman, Sachs & Co. acted as exclusive financial advisor to NewPage Corporation and Goldman Sachs and its affiliates acted as sole lead arranger and sole bookrunner on the financing. Schulte Roth & Zabel LLP acted as legal advisor to NewPage Corporation.

As a result of the transaction, affiliates of Cerberus Capital Management, L.P., and certain members of NewPage management own, in the aggregate, 80.1% of the outstanding capital stock of NewPage Group Inc., the indirect parent entity of NewPage Corporation. Stora Enso Oyj owns the remaining 19.9% of outstanding capital stock.

About NewPage Corporation

Headquartered in Miamisburg, Ohio, NewPage Corporation is the largest printing paper manufacturer in North America, based on production capacity with more than $4.3 billion in pro forma net sales for the last twelve months ended September 30, 2007. The company''s product portfolio is the broadest in North America and includes coated freesheet, coated groundwood, supercalendered and specialty papers. These papers are used for corporate collateral, high-end advertising brochures, magazines, catalogs, books, coupons, inserts, packaging applications and direct mail advertising.

NewPage owns a total of 12 paper mills operating 26 paper machines located in Kentucky, Maine, Maryland, Michigan, Minnesota, Nova Scotia, and Wisconsin. These mills have a total annual production capacity of approximately 5.5 million tons of paper, including 4.3 million tons of coated paper, 920,000 tons of uncoated paper and 300,000 tons of specialty paper, as well as approximately 3.2 million tons of pulp.

About Cerberus

Established in 1992, Cerberus Capital Management, L.P., along with its affiliates, is one of the world''s leading private investment firms with approximately $26 billion under management in funds and accounts. Through its team of more than 275 investment and operations professionals, Cerberus specializes in providing both financial resources and operational expertise to help transform undervalued companies into industry leaders for long-term success and value creation. Cerberus is headquartered in New York City, with affiliate and/or advisory offices in Atlanta, Chicago, Los Angeles, London, Baarn, Frankfurt, Hong Kong, Beijing, Tokyo, Osaka and Taipei. More information on Cerberus can be found at

Forward-looking Statements

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward- looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe," "anticipate," "expect," "estimate," "intend," "project," "plan," "will likely continue," "will likely result," or words or phrases with similar meaning. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our substantial level of indebtedness; our ability to realize the anticipated benefits of the acquisition of SENA, including anticipated synergies; our substantial level of indebtedness; changes in the supply of, demand for prices of our products; the activities of competitors, including those engaged in unfair trade practices; changes in significant operating expenses, including raw material and energy costs; changes in currency exchange rates; changes in the availability of capital; general economic and business conditions in the United States and elsewhere; changes in the regulatory environment, including requirements for enhanced environmental compliance; our ability to operate as a stand-alone business; and other risks and uncertainties that are detailed in our filings with the Securities and Exchange Commission, including those detailed under "Risk Factors" in Exhibit 99.1 of our Current Report on Form 8-K filed on December 3, 2007. The company does not intend, and undertakes no obligation, to update any forward-looking statements.

Source: NewPage Corporation
  

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