Houston Chronicle – SMART Papers, a maker of papers for writing, commercial printing, graphic arts and packaging, has emerged from Chapter 11 bankruptcy with new ownership, officials said Wednesday.

Plainfield Asset Management, which took a 92.5 percent stake in SMART in August when it assumed about $40 million of the company’s debt, has invested another $500,000 to increase production, Chief Executive Tim Needham said.

“SMART Papers has a rich history and well-established brands that bring unique value and benefit to the North American printing industry and their customers,” said Eric Reehl, managing director at Plainfield, a hedge fund based in Greenwich, Conn.

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