Finch to Invest Over $20M in Facility to Strengthen Position in Uncoated Freesheet Paper Market
GLENS FALLS, NY—December 12, 2014—Finch Paper received an economic development grant from New York State that will strengthen the company’s competitive position in uncoated freesheet paper.
A manufacturer of uncoated papers, including flagship Finch Opaque and Finch Fine, Finch Paper has announced a plan to invest $20 million in its Glens Falls, NY, manufacturing campus. An important component of the plan includes funding from public-private partnerships, as awarded yesterday by Governor Andrew Cuomo upon the recommendation of the state’s Capital Region Economic Development Council (REDC).
Finch Paper is a leading Opaque paper manufacturer, whose investment strategy is designed to increase its reliability and flexibility in the paper markets it serves while sustaining and growing vital manufacturing jobs in the Capital District and Adirondack region of New York State.
During a time of rapid change in the industry, Finch Paper is planning to invest in these critical areas: its wood processing and converting operations, its pulp mill and the company’s largest paper machine.
Equipment and asset upgrades in the company’s woodyard operation will have many benefits including improvements in safety, chip quality and fiber yield. The new equipment will use much less fuel and electricity and is expected to stimulate additional investments among Finch’s wood suppliers.
Finch Paper will also upgrade the pulp mill’s distributive control system. Finch operates one of only two ammonia based bi-sulphite (ABBS) pulp mills in the country which produces an exceptionally high-bright pulp while minimizing odors at its downtown location.
The announcement by New York’s Capital District REDC was also the critical component needed to engineer, build and install a new headbox on Finch’s largest paper machine. This major investment secures the company’s competitive position, improving both quality and efficiency while lowering the cost structure. “Finch and New York State have the ability to compete on a global scale,” Finch Paper President and CEO Debabrata Mukherjee said. “This investment is a celebration of our 150-year anniversary and will ignite the commitment we need to win for the next 150 years.”
Finch Paper is making additional investment in energy efficiency. Collaborating with the New York State Energy Research and Development Authority (NYSERDA), Finch’s goal is to make further reductions in gas and electric consumption and the company’s corresponding carbon footprint. Finch Paper produces two-thirds of its energy needs through on-site renewable resources with the balance coming from natural gas. Already Boiler MACT compliant, Finch is in an ideal position to invest in continuous improvement projects and assets that add value to their business and their customers’ businesses.
About Finch Paper
Finch Paper is a leading, privately owned and vertically integrated paper manufacturer specializing in high-bright, uncoated papers for North American printing and converting markets. Using advanced manufacturing systems, Finch produces a broad portfolio of opaque, text and cover and digital papers for multi-press environments, including recognized brands such as Finch Fine, Finch Opaque, Finch ThruPut Wove and Finch Inkjet Pi. Finch Paper was the first integrated paper manufacturer in the United States to receive both the Forest Management and Chain-of-Custody certifications from the Forest Stewardship Council and Sustainable Forestry Initiative. Finch is one of only a few paper companies that continues to manage forests. Finch papers are made using two-thirds renewable energy produced by on-site hydroelectric and cogeneration facilities and has been a responsible, sustainable New York State manufacturer for more than a century.
Source: Finch Paper.