Foreign acquisition underway ST Paper Duluth, a paper mill based in Duluth, in the U.S. state of Minnesota, is to be sold to Italian paper products manufacturer Sofidel Group.
"This is good news," ST Paper spokesman Bill Broydrick told local paper Star Tribune.
The paper mill in Duluth was launched in 1987, and it is currently operated by a workforce of some 100 employees.
Sofidel Group says it was set up in 1966. The Italian business is one of the world’s largest manufacturers of paper for hygienic and domestic use, producing toilet paper, kitchen towels, napkins, handkerchiefs and tissues, according to data from the conglomerate.
"From its headquarters in Porcari (Lucca, Italy), Sofidel coordinates the activities of 16 companies throughout Europe and the United States, which produce more than 1.4 million tonnes of paper each year and provide more than 6,900 people with employment," the company said in a statement.
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