Flurry of acquisitions by Paper Excellence draws attention from federal Competition Bureau and national media

By Tony Kryzanowski
The Logging & Sawmilling Journal
August 25, 2024
Category: Business & Politics
Region: Canada

In the span of 15 years, Paper Excellence has become Canada’s largest pulp and paper producer, and even expanded into solid wood products in Canada and the U.S. with the acquisition in 2023 of Montreal-based, Resolute Forest Products. The company has been on a buying spree in the last five years that has included the purchase of B.C.-based Catalyst Paper in 2019 and Montreal-based Domtar in 2021. …The CBC recently published a detailed investigation concerning its potential connections with Indonesian-based, Asia Pulp & Paper, as well as its past connections with Chinese banking concerns. The fundamental questions they raised were where all the financing for these transactions is coming from and what is the end goal? …The question from an industry perspective is whether Paper Excellence is good for Canadian forestry? The answer to this point is an unequivocal yes, if plans like the one to rebuild the Prince Albert, Saskatchewan pulp mill are any indication. 

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