McKinley Paper Company, the U.S. wholly-owned subsidiary of Bio Pappel, continues to grow in the U.S. and announces the acquisition of 100% of Midwest Paper Group from the investment fund IOP.
The acquisition of Midwest Paper Group, a large independent containerboard producer located in Wisconsin with a production capacity of 500 thousand tons annually, fits well with Bio Pappel – McKinley and substantially increases its current U.S. containerboard production.
With the acquisition of Midwest Paper Group, as well as the currently under construction and planned super plants of corrugated boxes, Bio Pappel will reach combined annual revenues in excess of $3 billion, keeping a low debt level and financial investment grade rating.
Miguel Rincón, Chairman of the Board of Bio Pappel stated: “The acquisition of Midwest Paper Group is consistent with our business strategy to continue building a powerful integrated paper and packaging company, convinced that North America (Mexico – United States – Canada) is the best region to invest and create shared value over the long term. We enrich our culture and competitiveness by warmly welcoming the people of Midwest Paper operations into the Bio Pappel – McKinley family.”
About Bio-Pappel Group
Bio Pappel is the integrated producer of containerboard, uncoated free sheet, newsprint, corrugated boxes, cut size paper, notebooks, paper sacks, and other paper specialties.
