Business Services Industry
Buckeye Cellulose Completes Alpha Acquisition
Business Wire, Sept 3, 1996
MEMPHIS, Tenn.--(BUSINESS WIRE)--Sept. 3, 1996--Buckeye Cellulose Corporation (NYSE: BKI) today announced that it has completed the purchase of Alpha Cellulose Corporation, Lumberton, NC, effective September 1, 1996.
Acquisition of Alpha will increase Buckeye's specialty pulp capacity by approximately 8% and will enhance quality, value and service to specialty pulp customers worldwide.
"We are delighted to welcome Alpha to the Buckeye family," Buckeye CEO Robert Cannon stated. "They bring expertise and synergy that complements and strengthens our specialty pulp business."
No layoffs or staff reductions are anticipated as a result of the acquisition, and Wayland McAllister, Alpha's president, will join the Buckeye management group reporting directly to David Ferraro, Buckeye President.
Buckeye is a leading manufacturer and marketer of high-quality specialty cellulose pulps. The Company has facilities in the US and Europe. Its products are sold worldwide.
CONTACT: Buckeye Cellulose, Memphis
Media contact: Neil O'Brien, 901/320-8397 or
Financial contact: Kris Matula, 901/320-8588
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