Richmond, Va.-based MeadWestvaco Corp. said today it has sold its specialty papers business in South Lee, Mass., to Onyx Specialty Papers Inc. for an undisclosed amount.

Onyx Specialty Papers is a new business formed by the plant’s current general manager, Patricia Begrowicz, and Chris Mathews, vice president of sales and business development. It produces decorative laminate products for commercial and residential markets, transmission products for the automotive industry, as well as other industrial specialty papers for various markets, according to a press release.

"We have built a strong business by producing high-quality papers, serving diverse, global markets," Begrowicz said. "We have long-standing relationships with our customers and vendors, and produce specialized products that meet the unique demands of certain markets. We are confident that this is a competitive and profitable business, and are looking forward to continuing to serve our customers for the long term."

The South Lee facilities employ approximately 122 people, and all are expected to transition to the new company, according to the press release. The sale is expected to be completed in early December.