Wausau Paper Company Sells Mosinee and Rhinelander Mills

The Wausau Paper Company has sold its mills in Mosinee and Rhinelander to a private equity firm.

Wausau Paper is selling the two specialty paper mills to KPS Capital Partners, LP of Manhattan, which is also buying mills in De Pere and Kaukauna owned by Packaging Dynamics Corporation. All four of the mills will be operated by a new company named Expera Specialty Solutions.

The sale is being welcomed by the people of the mill towns. Al Erickson, the mayor of Mosinee, is happy that central Wisconsin will keep 450 good paying jobs.

“Well, of course it’s good news to keep the mill in Mosinee. It’s good for Mosinee, it’s good for the region, it’s good for the state. Keeping those plants operating in a good strong market – the specialty papers market – I think it’s a real plus.”

The news is also being welcomed up north in Oneida County. Lara Reed is the executive director of the Rhinelander Area Chamber of Commerce.

“For anybody in the community, it’s fabulous news. It’s a very large employer here – anywhere between 400 to 500 jobs depending upon the time of year and what the projects are that they’re doing over there. So I think the entire community has breathed a sigh of relief.”

Wausau Paper will get $110 million dollars in net cash from the mill sales, and will now focus on its towel and tissue business. The company is launching a new line of tissue products using recycled fiber that will be manufactured in Kentucky.