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Wausau Paper finalizes deal to sell 2 Wis. mills

Published On: May 20 2013 09:03:39 PM CDT

Wausau Paper Corp. has signed a final agreement to sell its two remaining Wisconsin paper mills.

Monday's announcement finalizes Wausau Paper's withdrawal from making paper in Wisconsin after 114 years.

The two mills will merge with two other Wisconsin paper mills under new ownership, becoming Wisconsin's biggest papermaking company by employment.

The Milwaukee Journal Sentinel reports the new paper company also has a formal name: Expera Specialty Solutions LLC, employing 1,800 in Wisconsin.

KPS Capital Partners LP, a New York private equity firm, has agreed to acquire the Rhinelander and Mosinee paper mills from Wausau Paper and the Kaukauna and De Pere mills from Thilmany Papers.

All four mills produce specialty papers for packaging. None of the four mills makes paper for printing and publishing.

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