Date: Monday February 13, 2006 09:10:00 am
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Nashua Corp sells paper business assets to Nekoosa
NEW YORK, Feb 06 – Specialty paper and label manufacturer Nashua Corp. said on Tuesday it sold certain assets of its coated carbonless business to Nekoosa Coated Products, LLC.
As a result of the transaction, which closed on Tuesday, approximately 14 positions, mainly in Nashua’s Merrimack, New Hampshire facility, will be eliminated and Nashua will incur an estimated $500,000 in severance, it said.
Financial terms of the transaction to Appleton, Wisconsin-based Nekoosa Coated Products were not disclosed.
Nashua said it coated carbonless business accounted for approximately one percent of the company’s total sales in 2005.
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