Imation sells specialty papers business

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16 June 2005 – Oakdale (MN): Imation has agreed to sell its specialty paper business to Nekoosa Coated Products of Wisconsin for $17 million.

In a further statement, Imation revealed that the deal could be worth another $4 million in the next three years if the paper company performs well.

Up to 90 staff will be transferred to Nekoosa as part of the sale.

The sale is expected to be completed by the end of the Q2.