Boxboard: Ox Industries acquires Carthage, NY, URB mill, plans $15 million spend
OAKLAND, CA, Oct. 26, 2018 (RISI) -Uncoated recycled paperboard (URB) producer and converter Ox Industries plans a new investment period for Carthage Specialty Paperboard after acquiring the New York mill for $9.9 million, Ox CEO Kevin Hayward toldPPI Pulp & Paper Week.
Ox acquired the mill in an auction last week with the winning bid over equity firm Human Capital Investments. The mill's former owner DeltaPoint Capital Management filed for Ch 11 in March and since then the local economic development authority sought to save the mill's 70 jobs.
Hayward outlined $15 million in capital spending at the mill over three years ...