iBerkshires.com reports Crane Stationery Corp. was acquired on Wednesday by Mohawk

Fine Papers, a family-owned paper company based in Cohoes, N.Y.

Employees at Crane, in the Hardman Industrial Park, were informed of the purchase on Thursday afternoon.

The price was not revealed but workers, who were part of the partnership that bought the production lines from Crane & Co. in 2015, were told that their shares would be bought out.

The company's president, chief financial officer, and operations manager will depart. Crane has about 270 employees.