MeadWestvaco (MWV) plans to sell the MWV specialty paper mill in Potsdam, NY, to Potsdam Specialty paper, Inc., (PSPI). Closing is expected in 3Q08 and no terms were disclosed.

PSPI is part of an investment holding company with offices in New York, Hong Kong and Toronto. The press release notes it will be part of a portfolio of global businesses that focus on niche products and markets in the valueadded paper and coatings distribution business. PSPI says it intends to grow the business and expand its product line.

Mike Huth is the president of MWV Specialty Paper. The mill's current management team will stay on following the sale and all employees will be transferred to PSPI.