Offer made for paper mill, Adirondack timberland PDF Print E-mail
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Tuesday, April 03, 2007

On the Net

Finch, Pruyn
Atlas Holdings

GLENS FALLS (AP) — The board of Finch, Pruyn & Co. has recommended that the paper manufacturer accept an offer for its mill in Glens Falls and Adirondack forests from Atlas Paper Resources.
Shareholders are scheduled to vote April 24. The terms of the offer by Greenwich, Conn.-based Atlas Holdings and investors were not immediately disclosed.
Atlas Holdings Chairman Andrew Bursky said they plan to own and operate Finch, Pruyn "for the long term" and preserve "its culture of providing high-quality fine paper and service to its customers.
"We intend to retain the existing management team and employees of Finch and to work closely with them to build on the strong foundation that they have established," Bursky said in a statement.
Finch, Pruyn makes more than 250,000 tons annually of premium uncoated printing paper for advertising materials, book publishing and business office uses from its mill in Glens Falls, 53 miles north of Albany, according to the company.
It employs about 850 people and has about 160,000 acres of Adirondack forest, including extensive holdings in the Town of Newcomb in Essex County.
Atlas, a diversified industrial holding company, also owns Forest Resources, which operates four paper mills and nine packaging plants.



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