Madison Paper Industries completed sale of its hydro power facilities to Eagle Creek Renewable Energy, a hydroelectric power producer, based in Morristown, New Jersey, USA on July 31, 2017.
At the beginning of 2017, UPM-Kymmene and Northern SC Paper announced the sale of Madison Paper Industries to a joint venture of New Mill Capital Holdings of NY, Perry Videx of Hainesport, NJ and Infinity Asset Solutions of Toronto. According to the announcement, the hydro power assets located at the mill site were separated of the transaction.
Madison Paper Industries is a partnership of UPM and Northern SC Paper, a subsidiary of the New York Times Company. The company’s assets included two hydro power plants.