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McKinley Paper Company, a subsidiary of Bio PAPPEL, is acquiring 100% of Midwest Paper Group, a Wisconsin containerboard producer with 500 thousand tons annual capacity, from investment fund IOP.
McKinley Paper will receive a $5 million state Local Economic Development Act grant to build a new boiler, water systems and wastewater treatment in McKinley County, New Mexico, retaining at least 125 jobs after its power supply closed.
U.S. Corrugated Inc and McKinley Paper Co, a subsidiary of Bio PAPPEL, have been amalgamated to form a vertically integrated paper and packaging company with mills and box plants in the US and Mexico.
Box manufacturer U.S. Corrugated, owned by McKinley Paper Co., selected Lebanon, Indiana for a new state-of-the-art corrugated packaging plant scheduled to start up by the end of 2019. No capacity figure was announced.
Mexican paper maker Biopappel, through its US subsidiary McKinley Paper Company, acquired 55 percent of US Corrugated Inc and subsidiaries. The amount was not disclosed, and the deal doubles Biopappel's US operations.
