MOSINEE, Wis. (WSAU-Wheeler News Service) — A Wisconsin paper company will be sold to a Swedish company.
Wausau Paper is being sold to S-C-A of Sweden in a deal valued at 513 million dollars. The companies announced the cash deal today (Tuesday).
Wausau Paper Chairman and C-E-O Michael Burandt says the deal is subject to shareholder and regulatory approval, and is expected to be finalized early next year.
The Mosinee-based Wausau Paper has about 900 employees and makes commercial towel and tissue products. Swedish company S-C-A, headquartered in Stockholm, is a hygiene and forest products company with about 44-thousand employees. It has Wisconsin paper operations in Neenah and Menasha.
The move comes after Wausau Paper closed its mill in Brokaw, eliminating about 450 jobs, and shut down a Brainerd, Minnesota factory, eliminating 130 jobs.
