Shocker: Putney Mill Has Been Sold
Posted in the Vernon Forum
#1 Dec 31, 2012
A mandatory all hands meeting has been set for this afternoon?
#2 Dec 31, 2012
I heard they use turkey grease or like to power the mill's boilers?
#3 Dec 31, 2012
Is it a ruse, they are really shutting it down?
#4 Dec 31, 2012
#5 Dec 31, 2012
It is reengineered turkey grease or oil
#6 Dec 31, 2012
So Sound View bought out the Putney Papermill, but first they bought out Merkel.
Thenew owners say no changes...
Sounds like consolation...
#7 Jan 3, 2013
Putney Paper sold to N.J. company
By BOB AUDETTEreformer.com
Posted: 01/03/2013 03:00:00 AM ESTJanuary 3, 2013 12:23 PM GMTUpdated: 01/03/2013 07:23:18 AM EST
Thursday January 3, 2013
PUTNEY -- Soundview Paper Company of Elmwood Park, N.J., announced Wednesday that it had purchased Putney Paper from APC Paper Holdings.
"The acquisition happened on December 31 and it happened with a great amount of speed," said Noel Huebner, director of marketing for alternate channels for Soundview Paper. "It wasn't long in the making, just a couple of months."
Huebner said she could not disclose if APC put Putney Paper on the market or if Soundview, which also recently bought Marcal, went looking for a new asset to purchase.
Soundview itself is owned by Atlas Holdings, which is described as a private equity firm "specializing in bankruptcy purchases, restructuring, turnarounds, leveraged ESOP transactions and difficult transactions with labor issues, environmental challenges or complex operating configurations."
Atlas Holdings' other assets include AGI-Shorewood, Bridgewell Resources, Finch Paper, Pangborn Group, Redbuilt and Susquehanna Drilling Partnerships
Huebner said at this time there are no plans to make changes at the Putney facility.
"Things will remain very much the same as they are today," she said. "The goal is to maintain both companies' presence and growth in the commercial market."
#8 Jan 3, 2013
Sounds like the Putney Papermill is about to be loaded with debt and dumped. I hope all those people can find a new job.
#9 Jan 4, 2013
No plans today, just wait until tomorrow.
#10 Apr 10, 2013
New paper plant owners eye expansion
By MIKE FAHER / Reformer Staffreformer.com
Posted: 04/10/2013 03:00:00 AM EDT
Wednesday April 10, 2013
PUTNEY -- Just three months after purchasing the former Putney Paper Co., executives with New Jersey-based Soundview Paper Co. are hoping to expand the facility and add jobs.
But theyre also looking for state assistance to make that happen. That was the reason for a brief sit-down this week between Soundview administrators and Gov. Peter Shumlin at the Putney plant.
While making no promises, Soundview President and Chief Executive Officer George Wurtz III said business is good in Vermont so far.
"Weve been very pleased with the initial investment," Wurtz said. "Were in conversations with the governor to look at potentially continuing to grow our converting capacity and hire more employees within the region."
Soundview formed with the acquisition nearly a year ago of Elmwood Park, N.J.-based Marcal Paper Mills LLC. Marcal -- known for its 100 percent-recycled paper products such as tissues and napkins -- which had entered and emerged from bankruptcy and was about to be liquidated, Wurtz said.
"We went in and looked at the (Marcal) mill, and we decided to buy the mill," Wurtz said.
It so happened that Putney Paper was a Marcal supplier, so Soundview executives visited Vermont. Wurtz recalls a September conversation that went this way: "If youre ever interested in selling, Putney Paper would be a perfect fit with our Soundview Paper business and the Marcal Mill."
About three months later, the deal was done. Soundview took over operation of the Putney plant, headquartered at 67 Kathan Meadow Road, on New Years Day.
#12 Apr 10, 2013
I verify everything in this article is true!
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