Catalyst Paper Corp. is selling its U.S. operations, including its paper mill in Rumford, Maine.
A spokesperson for Nine Dragons Paper says it is not planning any layoffs in Rumford, which has a workforce of more than 600 employees.
Friday Nine Dragons announced that it would purchase the Rumford operation, along with facilities in Wisconsin and Ohio, from the Canada-based Catalyst Paper for $175 million.
Catalyst CEO Ned Dwyer said that the sale of the three American properties would enable the company to pay down debts and develop its Canadian operations.
Nine Dragons says it's looking to make its new mills "competitive on a global scale."
The deal is expected to close some time during the second quarter.
