A deal has been agreed that will see Chinese paper recycler Nine Dragons buy US firm The Target Company and its two paper mills.
Nine Dragons will pay $175 million (£131 million) for the business that operates two mills in Maine and Wisconsin.
The mill in Maine has an annual capacity of 550,000 metric tonnes producing coated one-side, coated freesheet and coated groundwood grades.
While the Wisconsin mill produces groundwood grades with an annual capacity of 340,000 tonnes.
Want to know where Tania Don from ACN and Johan Sundblad from Saica think the recycled paper market is . . .
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