on Asten Papermaking Company (APL) article by Scott Stossel at The New York Post, April 13, 2017: New York’s largest papermaking group, Asten, announced Monday that it will merge with the U.S. company United Papercraft to form Asten Global Paper.
The announcement comes just a week after the merger was approved by the U to become a standalone company.
The company will continue to make paper at the company’s existing facility in East Rutherford, New Jersey, but the new company will be responsible for production of all paper and other goods for the state of New Jersey.
“This move represents a significant milestone in our company’s transformation from a wholesale company to a global leader in the production of paper and products for our customers,” Asten president and CEO Jim Cone said in a statement.
“We look forward to working closely with our customers to deliver our products and services at a scale that reflects the breadth and variety of our customers and markets.”
United Papercraft was the second-largest papermaker in the world, with sales of $5.4 billion in 2016.
It was founded in 1946 and was renamed United Paper Products Co. in 1976.
The company’s largest customer is United States Postal Service, which owns about 80 percent of the company.
United Paper Products Company, which is owned by United States Post Service, is responsible for paper production in the United States and overseas.
United Paper Co. has been producing paper in the U