USG Seeks To Acquire Paper Mill for $18M

Law360, New York (March 16, 2006, 12:00 AM EST) -- Hoping to gain a competitive edge in the construction material industry, USG Corp. has asked a bankruptcy court to allow it to fund the $18 million purchase of a Michigan paper mill through a new subsidiary.

USG, a Chicago-based building materials manufacturer, believes the deal would bring in substantially more than its $18 million asking price, according to a court filing Monday.

Through its subsidiary Otsego Paper Inc., USG decided Friday to purchase the mill in Otsego, Mich., from Menasha Corp.

Acquiring the mill will give...
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