| Deal Description | Great Northern Nekoosa Corporation added the net proceeds from this transaction to its general funds, to be used for capital expenditures and other general corporate purposes. Such capital expenditures included the completion of a new paper-making machine and supporting equipment, primarily for the production of groundwood printing papers. Other projects included the expansion of the bleached pulp capacity of the Ashdown mill, the installation of a new coater to make carbonless paper, a coaster to make paper used primarily in the education field, and the modernization of certain paper-making machines and supporting facilities. The company also intended to use a portion of the proceeds to repay borrowings and to invest the balance temporarily in short-term obligations until used in its business. |
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