Printer Friendly

SCI INVESTORS, SENIOR MANAGEMENT ANNOUNCE PURCHASE OF CUSTOM PAPERS GROUP

 RICHMOND, Va., Nov. 8 /PRNewswire/ -- SCI Investors Inc. and the senior management of the Custom Papers Group announced today they have completed the previously announced purchase of the Custom Papers Group.
 The Custom Papers Group was formerly part of Specialty Coatings International, which was acquired by Bowater plc (NASDAQ Small Cap: BWTRY) on March 19, 1993. At that time, Bowater concluded that, while Custom Papers Group was tightly managed and profitable, it did not fit with Bowater's strategy and would be offered for sale.
 Custom Papers Group has sales of approximately $90 million and operates five plants which are located in Richmond; Rochester, Mich.; Fitchburg, Mass.; Hughesville, N.J.; and Warren Glen, N.J. The headquarters of Custom Papers will be located in Richmond.
 Custom Papers is one of the largest producers of specialty papers and manufactures a broad range of specialty paper products used in the manufacture of filters, electrical equipment, sandpaper, photographic and medical packaging, archival mounting boards, post-consumer-waste- containing printing papers, and security tickets.
 SCI Investors is a Richmond-based company which leads the management buy out of and invests in mid-size industrial companies. SCI Investors was founded by A. William Hamill and James E. Rogers, both of whom previously served as executives with Specialty Coatings International.
 /delval/
 -0- 11/8/93
 /CONTACT: A. William Hamill, 804-697-3507, or James E. Rogers, 804-697-3517, of SCI Investors/


CO: SCI Investors Inc.; Custom Papers Group; Bowater plc ST: Virginia IN: PAP FIN SU: TNM

MK-LJ -- PH027 -- 1846 11/08/93 14:24 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 8, 1993
Words:252
Previous Article:ENVIROFIL ANNOUNCES CONSUMMATION OF ACQUISITIONS
Next Article:OMEGA HEALTH SYSTEMS ANNOUNCES RESULTS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters