Paper manufacturer Smurfit-Stone agreed to sell its Port Wentworth, Ga., pulp mill to Willamette Industries. The company said proceeds from the sale, which is expected to close later this quarter, will be used to reduce debt. Smurfit said the sale of the facility is part of its ongoing effort to divest non-core assets.
Under the agreement, the sale does not include the linerboard production or recycled fiber pulping assets at the site, which had been left idle since 1998. Those assets will be removed over a period of up to three years under the agreement.
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