Financing Leads to Jobs and Supports Green Industry in New York State
Niagara Falls, New York celebrated 300 new construction jobs and an additional 100 manufacturing jobs at the groundbreaking yesterday for a new, recycled-containerboard mill that was financed in part by GE Capital. The $430 million Greenpac Mill is set to open in the summer of 2013 and is being built and operated by Norampac, a division of Canadian company Cascades, Inc. and other investors. It will manufacture approximately 540,000 short tons of lightweight linerboard a year in Niagara Falls, all of it made with recycled fibers. To help fund the development, construction and operation of Greenpac, GE Capital led the financing of $228.9 million in project finance credit facilities.
Read more at GE Reports.