Domtar acquires Resolute Forest Products

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Domtar acquires of Resolute Forest Products

Paper Excellence Group intends to carry out a feasibility study for the eventual conversion of the mill of newsprint from Resolute in Gatineau for the production of wrapping paper (archives).

The Domtar Corporation, a subsidiary of the Groupe Papier Excellence based in British Columbia, announces on Wednesday the #x27;acquisition of all of the outstanding common shares of Resolute Forest Products. The transaction is valued at US$2.7 billion.

Resolute will continue to operate under the same name and the management team of Resolute will remain at the head office in Montreal, which Groupe Papier Excellence believes will become an important hub for its North American operations.

Groupe Papier Excellence plans to retain production sites and #x27;Employment of Resolute.

Rémi G. Lalonde, President and CEO of Resolute, said in a statement that the transaction will allow the company to ;accelerate its growth by having access to more tools, capital and opportunities to pursue its ambitions.

Groupe Papier Excellence intends to carry out a feasibility study to the eventual conversion of Resolute's newsprint mill in Gatineau to the production of wrapping paper.

The history of Resolute Forest Products in Quebec goes back more than 200 years, according to the company.

Major fire at Resolute Forest Products facility in Gatineau

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