What is Twin Rivers Paper?
Twin Rivers is an integrated specialty publishing, packaging and label papers business.
Where are its operations?
It is comprised of three operations: a paper mill in Madawaska, Maine; a pulp mill in Edmundston, New Brunswick; and a lumbermill in Plaster Rock, New Brunswick.
When was Twin Rivers Founded?
The company purchased the specialty paper assets from Fraser Papers Inc. on April 28, 2010 through a transaction associated with the restructuring of Fraser Papers.
What is the size of the company?
The business is expected to generate revenues of approximately $400 million, producing 380,000 tons of specialty papers and 150 million board feet of lumber.
Where is the company located?
The company is managed out of the South Portland, Maine office. In addition to its three manufacturing facilities, Twin Rivers operates a Technology Center in Montreal, Quebec.
What is the ownership structure?
Twin Rivers is a privately held company. Brookfield Asset Management is the largest shareholder with 51% of the common shares.
Who runs the company?
Jeffrey Dutton leads the management team as President and CEO of Twin Rivers. Reporting to Jeff are four senior managers with responsibility in the areas of finance, human resources, operations, and sales & marketing. Click here to learn more about the management team.
How is Twin Rivers different from Fraser Papers?
Aside from a smaller operational footprint, Twin Rivers will be exclusively focused on specialty papers and the creation of value-added products through market insight and a continued commitment to product innovation. The company is built with financial stability, with minimal debt and less exposure to market fluctuations in oil, market pulp and the Canadian exchange rate.
Additionally, the company has recently completed a number of initiatives that will have positive long-term impact on the bottom line. Initiatives include the optimization of the operations with lower labor costs; a reduction in corporate overhead; the renegotiation of fiber supply agreements and energy contracts; the investment of C$23 million in our Edmundston facility from the Canadian Green Transformation Program to reduce energy costs and improve environmental performance and a substantial upgrade to the lumbermill in Plaster Rock.
Do you own Katahdin Paper Company?
Katahdin Paper Company LLC is an affiliate of Brookfield Asset Management. Twin Rivers manages the business and operations of Katahdin.
What is the significance of the Twin Rivers name?
The pulp and paper operations are uniquely located on the United States and Canadian border at the confluence of the St. John and Madawaska Rivers. Aside from the geographic reference, the name reflects our commitment to protecting our natural resources and supporting our communities. The logo symbolizes the rivers joining together.