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Printing, Pulp & Paper

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Our Printing, Pulp & Paper Industry group serves companies in a range of related forest-products industries. These include forestry companies, producers of pulp and paper, lumber producers, and printers and packaging companies. Our team also works with suppliers of chemicals, minerals and equipment used by forest products companies.

With deep experience in the industry, we help our clients devise growth strategies and, when appropriate, turnaround strategies. In an industry where cost containment and reduction is critical, we work with clients to streamline processes, trim excess capacity, increase productivity and improve profitability.

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From Bankruptcy to Sale, a Successful Outcome is Achieved

The Engagement

Conway MacKenzie was retained as financial advisor to the financial lender in the Chapter 11 proceeding of a paper mill specializing in uncoated printing and packaging papers and processed chlorine-free (PCF) specialty offset papers for printers and converters. The company filed for Chapter 11 bankruptcy protection due to increased costs of raw materials compounded by a substantial drop in sales. Additionally, the company was faced with lack of payment by one of its larger customers.

Our Role

Conway MacKenzie worked with management and helped the bank to review the company’s short-term cash forecasts and assessed liquidity constraints, to review the viability of claims against the company in the bankruptcy process and to assess the value of the company under various sale and/or liquidation scenarios.

The Result

The company exited Chapter 11 and was sold to a strategic buyer, thus satisfying the bank loan. The company continues to operate as a going concern.

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