first_imgLONGVIEW— Weyerhaeuser Co. has sold its NORPAC paper mill to One Rock Capital Partners, LLC, ending Weyerhaeuser’s nearly 90-year papermaking presence in Longview.Weyerhaeuser said that it will use a substantial portion of the after-tax proceeds from the sale to pay off debt. The sale includes the printing papers mill located in Longview, which Weyerhaeuser has operated through a joint venture with Nippon Paper Industries Co., Ltd. Nippon’s 50 percent stake in the newsprint mill is included the sale.While the price of the NORPAC sale wasn’t immediately available, Nippon reported that it sold its half of the company for $40 million.“Customers of NORPAC have a high opinion of the quality of the products, in which state-of-the art technologies of both companies were incorporated, and NORPAC had performed well in terms of sales over the long term in the Japanese and U.S. markets,” Nippon said in a press release.“However, NORPAC has faced a tough business environment, due to a decrease in demand for newsprint and stiff competition in the U.S. market. NORPAC has taken measures, including the cultivation of Asian markets, expansion in the sale of printing papers in the U.S. market, and the development of new products, in addition to thorough cost reductions,” the Japanese company added.NORPAC produces newsprint and book paper. The newsprint market has been shrinking for decades as newspapers have closed and downsized. The Longview operation opened in the late 1970s as a non-union mill and was the last of the local paper facilities sold under Weyerhaeuser’s goal to get out of the papermaking business.last_img read more