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ALPHARETTA, Ga.--([ BUSINESS WIRE ])--Neenah Paper, Inc. (NYSE: NP) today announced that the Company sold the land and remaining assets of its fine paper mill in Ripon, California to Diamond Pet Food Processors of Ripon, LLC for a purchase price of $9 million. The Company will recognize a pre-tax gain on the sale of approximately $3 million in the fourth quarter of 2010.
About Neenah Paper, Inc.
Neenah Paper is a leading global manufacturer of premium, performance-based papers and specialty products used in a variety of applications including filtration, printing and writing, and as backing and component materials for various specialized industrial and consumer applications. Products are marketed under well-known brands such as CLASSIC®, ENVIRONMENT®, CRANE®, KIMDURA®, Gessner®, JET-PRO® SofStretch(TM) and varitess®. Based in Alpharetta, Georgia, the company has paper manufacturing operations in the United States and Germany. Additional information about Neenah Paper can be found at the company's web site, [ www.neenah.com ].