Paper Excellence’s wholly-owned subsidiary Domtar Corporation had signed a contract with Resolute, a global forest products company, to acquire all of the outstanding common shares of Resolute stock.
November 1, 2022
The Paper Excellence Group and Resolute Forest Products Inc. have expressed their intention to sell Resolute’s Thunder Bay pulp & paper mill to further facilitate the regulatory review process.
In July this year, the Paper Excellence Group, through its wholly-owned subsidiary Domtar Corporation, signed a contract with Resolute, a global forest products company, to acquire all of the outstanding common shares of Resolute stock.
“Today’s announcement is a clear demonstration of our commitment to timely complete the acquisition of Resolute,” said Mr. Patrick Loulou, Vice Chair and Chief Strategy Officer of the Paper Excellence Group.
Mr. Remi G. Lalonde, Resolute’s President and CEO, stated, “The mill is an exceptional asset. I am confident that the dedicated and talented team in Thunder Bay will have a prosperous future with any company fortunate enough to have them as part of their organization.”