AUGUSTA, Maine (AP) — A major Maine paper company is acquiring the paper division of a New York company.
Twin Rivers Paper Company announced Friday that it bought four specialty paper machines located in Mississippi and New York and owned by Burrows Paper Corporation.
GOP Gov. Paul LePage called the news a sign that the paper industry isn't dead.
Twin Rivers' CEO said that the acquisition is part of the company's efforts to rebrand the paper industry and focus on lightweight packaging, publishing and label markets.
As the global demand for paper declines, five major Maine mills have closed in the last few years and more than 2,300 workers have lost their jobs since 2011.
Last summer, Twin Rivers Paper Company announced 49 layoffs were expected after its Madawaska mill shut down a machine.