News Ticker – May 26, 2010

Fraser Papers to sell New Hampshire paper mill
Toronto-based Fraser Papers, Inc., reaches an agreement Tuesday to sell substantially all assets in the Gorham, NH, paper mill to an investment fund managed by MerchantBanc, LLC (Manchester, NH). Terms of the transaction were not disclosed. The mill currently operates three paper machines and produced 80,000 tons of uncoated freesheet papers and 37,000 tons of towel products in 2009. The deal is expected to close in late July. Fraser Papers remains under creditor protection with its stay of proceedings having been extended by the court to July 9.

Middle East PE, PP resin capacity rising 30% a year
The region is not just the world’s home of crude oil; it’s fast becoming a top producer and exporter of plastic resins. Polyethylene (PE) and polypropylene (PP) resin capacity in the Middle East is predicted to more than double by 2015, according to organizers of the first GPCA Plastics Summit. That event, set for the Grand Hyatt Dubai June 14-16, will cover issues impacting the entire plastics value chain as well as address how the Middle East and global plastics industry is evolving to drive sustainable growth through socially responsible initiatives. More info

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