Brazil’s Suzano S.A., the world’s largest pulp producer, completed its $110 million acquisition of a Waynesville paper extrusion facility and a paper mill in Pine Bluff, Arkansas.
Suzano said Tuesday it purchased the operations from Pactiv Evergreen, a Lake Forest, Illinois-based maker of cartons for fresh foods and beverages. When the companies announced the transaction in July, Pactiv said Suzano agreed to offer jobs to workers in the U.S. facilities.
The acquisition follows Pactiv’s decision last year to close its paper mill in Canton and reduce jobs in its nearby Waynesville facility, resulting in the loss of almost 1,100 positions. In operation for more than a century, the Canton mill was Haywood County’s largest employer.
North Carolina received approval for a $7.5 million federal workforce grant to help displaced Pactiv workers. Gov. Roy Cooper said $2.5 million was immediately available, while the rest would be distributed as needed to support workforce development efforts in coming weeks and months.
Suzano said its acquisition expands its operations in North America and marks its entry into the consumer and food service packaging segments in the region. Under their new ownership, the two facilities will continue supplying paperboard to Pactiv for producing packaging.
Pactiv was planning to sell its shuttered downtown Canton paper mill property to a business believed to be owned by developer Eric Spirtas, effective Oct. 1, according to a Sept. 14 Smoky Mountain News. It’s unclear if that closing occurred. The downtown Canton area suffered massive flooding during the Helene storm, prompting pleas for assistance from Mayor Zeb Smathers and other officials.
