Paper Excellence Group and Resolute Announce Intention to Sell Thunder Bay Pulp and Paper Mill

By Resolute Forest Products
Cision Newswire
October 27, 2022
Category: Business & Politics
Region: Canada, United States

MONTREAL — Paper Excellence and Resolute Forest Products announced their intention to sell Resolute’s Thunder Bay pulp and paper mill to further facilitate the regulatory review process. On July 6, the Paper Excellence Group through its wholly-owned subsidiary Domtar entered into an agreement with Resolute to acquire all of the outstanding common shares of Resolute stock. …”This is a very hard thing to do, but we believe it is necessary in order to accelerate our strategic combination with the Paper Excellence Group,” stated Remi G. Lalonde, Resolute’s CEO. “The mill is an exceptional asset. Any sale of the Thunder Bay pulp and paper mill will be contingent upon closing of the announced acquisition of Resolute by Domtar, and to applicable regulatory approvals. The acquisition of Resolute by Domtar continues to be expected in the first half of 2023, following stockholder and regulatory approvals.

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