CorrVentures LLC (“CVL”), a private development firm specializing in strategic project development in the pulp & paper and corrugated packaging markets, plans to build and operate a 300,000 TPY 100% recycled lightweight containerboard mill near Albany, New York. According to a company press release, the project schedule currently anticipates a Q4 2019 financial closing, with commencement of commercial operations in Q4 2021. The mill’s geographic location is well-suited to secure primary OCC raw material supply, available to the mill by common carrier, rail, and deep-water barge.
The CVL development team has substantial experience and prior success in designing, building and operating business facilities similar to those planned for the project, as well as in managing printing and packaging businesses with significant purchase requirements for recycled containerboard. The founders include Charles P. Klass (Chairman), Stephen R. Read (President & CEO), Jan Lambert (EVP), and Eric Lawrence (EVP & Treasurer).
The corporate investment and off-take partners participating in this venture will consist of major independent corrugated packaging and corrugated sheet feeder operations based in the North Central and Northeastern United States, and Canada. Each of these companies will be selected for approach based on their established history and strong reputation of success in the industry.
The Hudson Valley Paperboard Project will be built by a globally recognized firm who will have complete responsibility for the design, engineering, procurement, and construction of the new lightweight containerboard mill operations, according to CorrVentures. Operations will highlight state-of-the-art proven recycling and papermaking technologies from across North America and abroad. The paper machine will include starch surface treatment and optimized calendering to provide enhanced strength and excellent printability.
