Dublin, GA ‐ , September 11, 2012 – SP Fiber Technologies LLC (SPFT) has announced today that it has successfully acquired substantially all of the assets and certain liabilities of SP Newsprint and its subsidiaries in a court‐approved sale.
SPFT will relocate its corporate headquarters to its facility in Dublin, Georgia. The company will operate its mills in Newberg, Oregon and Dublin, Georgia as well as its wholly‐owned subsidiaries SP Recycling Southeast LLC (SPRS) and SP Recycling Northwest LLC (SPRN). Based in Atlanta, Georgia, SPRS and SPRN are leading recyclers of recovered paper and other recovered commodities in the Southeast and the Pacific Northwest. SPRS and SPRN collects, processes, and ships high qualiy material from 21 processing facilities in 9 states.
Jay Gurandiano will serve as Chairman of the Board, President and Chief Executive Officer. He has held senior management positions at Smurfit‐Stone Container Corporation and founded St. Laurent Paperboard, a major specialty packaging paperboard and converting company. Mr. Gurandiano will also oversee SPFT’s recycling businesses. Mr. Gurandiano has put together a senior management team made up of seasoned industry managers to lead the new company.
“We are excited about the future of SPFT and all of its businesses,” said Jay Gurandiano. “SPFT is a well capitalized company with committed and knowledgeable shareholders and an exciting strategic plan to strengthen its place in the newsprint and packaging markets. It has a strong and experienced workforce and a solid customer base to build upon,” said Mr. Gurandiano. “The new management team is committed to improve product and service, boost product innovation and a build an engaged workforce with an enhanced customer focused culture. “ Mr. Gurandiano commented, “While newsprint will remain the foundation of the business for the foreseeable future, the Company is looking forward to aggressively developing an innovative value‐added packaging component to service the paperboard, containerboard and converting marketplaces. SPFT will focus on customer service, environmental stewardship and technological innovation.”
About SP Fiber Technologies (spfibertech.com)
SP Fiber Technologies is a leading producer of high‐quality newsprint and paperboard with mills in Dublin, GA and Newberg, OR. The two mills produce more than one million tons of which at least half is recycled paper. Wholly‐owned subsidiaries SP Recycling Southeast LLC (SPRS) and SP Recycling Northwest LLC (SPRN) are based in Atlanta, Georgia. SPRS and SPRN are leading recyclers of recovered paper and other recovered commodities in the Southeast and the Pacific Northwest. The two recycling companies collect, process, and ship high quality materials from 21 processing facilities in 9 states. The companies support local recovery efforts of old newspaper and other materials by offering collection containers for community and non‐profit group fundraising.