SNOWFLAKE — A large plant in northeastern Arizona that turns recycled newspapers into corrugated paper is being sold.
The Arizona Republic says a Vancouver, British Columbia, company is buying the 450-employee plant in Snowflake. The sale price is 161 million dollars.
The deal includes the Apache Railway Company, a short-line railroad that transports freight between Snowflake and Holbrook.
The purchaser is Catalyst Paper Corporation.
The Republic says the plant is being sold to gain U.S. Justice Department approval of the merger of paper producers Abitibi Consolidated of Montreal and Bowater Corporation of Greenville, South Carolina.
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