Scott Paper to Sell Peripheral Assets: Scott...
From Times Staff and Wire Reports
Scott Paper to Sell Peripheral Assets: Scott Paper Co. announced that it would sell a number of “non-strategic” assets to improve its earnings potential and reduce debt. The company said it would sell most of its food-service business; its specialty paper businesses including a paper mill in Westbrook, Me., and a converting facility in Belgium; and its bulk nonwovens business with manufacturing sites in the U.S. and Germany. Primarily as a result of this program, the company will record writeoffs in the fourth quarter of about $100 million after taxes.
