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This study examined the life duration of US paper mills during the past 30 years. The US paper industry has been expanding, but its profit margin has been volatile and decreasing. The hazard rate curve revealed that there was increasing risk of closure during the first 7 years for new mills and for established mills, after the age of 18 years. Parametric duration analysis concluded that large mills had longer life duration. Merger and acquisition (M&amp;A) activities and changes of ownership increased the life duration of mills. Mills located in the South had longer life duration while entry time of mills had limited impact. South. J. Appl. For. 30(1):5–12.

Lifetimes of US Paper and Allied Products Mills: Insights from a Duration Analysis