Mohawk to Purchase IP Fine Papers

PRESS RELEASE

COHOES, NY—Mohawk Paper Mills has signed a letter of intent to purchase the Fine Papers Business from International Paper (IP), Stamford, CT, including the writing, text, and covers papers and artist products segments. The transaction is subject to approval by Mohawk’s board of directors, but both Mohawk and IP expect to complete the transaction during the first quarter of 2005. The companies have not disclosed the terms of the transaction.

The Hamilton, OH, paper mill, the Saybrook, OH, converting facility, and the Westfield, MA, Artist Products converting operation will be included in the transaction, as well as related sales, marketing, and customer service staff and the Strathmore®, Brite Hue®, Via®, and Beckett® brands. The Fine Papers business produces approximately 65,000 tons per year of Strathmore, Brite Hue, Via, and Beckett brands and employs 496 people.

For more information, visit mohawkpaper.com or call 800/THE-MILL.



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