Preti Flaherty Client Twin Rivers Paper Company Purchases Fraser Papers’ Specialty Paper Business

April 30, 2010 (Portland, Maine) – Preti Flaherty announced today that its client, Twin Rivers Paper Company, recently closed on the purchase of Fraser Papers' specialty paper business. The closing occurred on April 28, 2010 and included the purchase of two lumber mills, a sulphite pulp mill, a biomass cogeneration plant and the Madawaska, Maine specialty paper mill. The Twin Rivers' Management team is headquartered in South Portland, Maine and its manufacturing facilities are located in Madawaska, Maine and Edmundston, Plaster Rock and Juniper, New Brunswick. The company's Technology Centers are located in Madawaska, Maine and Montreal, Quebec.

According to Preti Flaherty Attorney Steven Hudson, who serves as General Counsel to Twin Rivers, "We congratulate Twin Rivers on the purchase of Fraser's specialty paper assets and look forward to supporting them throughout the launch of Maine's newest paper company. We are pleased that an energetic company like Twin Rivers has selected Preti Flaherty to represent them. We believe our entrepreneurial approach to problem solving will fit well with Twin Rivers' strategic vision for its business."

Twin Rivers employs approximately 1300 people (almost 700 in Maine alone) and is North America's largest producer of lightweight printing papers. Jeff Dutton, formerly of Fraser Papers, will serve as CEO.

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