SP Newsprint Inks Deal to Ensure Future Viability

PRESS RELEASE - SP Newsprint Co., LLC, which operates one of its two manufacturing facilities in Dublin, GA and has a subsidiary, SP Recycling Corp., which is based in Atlanta, announced that it has entered into a forbearance agreement with its revolving and term lenders. Under the terms of the agreement, SP will be provided with additional liquidity and the lenders will forebear from exercising any rights or remedies that might otherwise have been available to them. During the forbearance period, SP, its lenders and advisors will work to develop and implement a business plan for SP which will ensure its viability on a long-term basis.

SP Newsprint Co., LLC is the fourth largest newsprint manufacturer in North America, with approximately 900,000 metric tons of newsprint production capacity. In addition to its Dublin, Georgia mill, the company has a second mill in Newberg, Oregon and operates 22 recycling facilities through SP Recycling Corporation.