Chinese company Nine Dragons buys Catalyst Paper mills in US for US$175m
(WorldNews China)

Canadian company Catalyst Paper Corp. is selling its US operations, including a pair of paper mills in Maine and Wisconsin, to a Chinese company that has no immediate plans for changes, officials said Friday. A subsidiary of Nine Dragons Paper is paying US$175 million for the mills and an operations centre in Dayton, Ohio. There are no plans for lay-offs at the mills, which employ about 610 workers in Rumford, Maine, and 380 workers in Biron, Wisconsin, a spokeswoman said. Fosun to expand in......