Hackman Capital Buys Catalyst Snowflake Mill

http://www.catalystpaper.com/

Hackman Capital Partners, LLC, a privately-held, asset-based investment firm based in Los Angeles, confirmed today the successful acquisition of Catalyst Paper's shuttered paper mill and certain other assets located in Snowflake, Arizona. Catalyst Paper, western North America's largest producer of mechanical printing paper, closed the Snowflake facility in September. Catalyst's assets were sold at auction in New York City on December 17, 2012, as part of restructuring proceedings in a Chapter 15 bankruptcy matter filed in Delaware. The assets sold at auction to the Hackman-led consortium consisted primarily of the paper mill improvements and personal property and 19,000 acres of real property. In a separate transaction through the auction, the Snowflake Community Foundation acquired the Apache Railroad Company and its 45 miles of track, which serve an important economic development purpose for the entire Snowflake community.