Canadian pulp, printing and packaging paper manufacturer, Paper Excellence, has announced the acquisition of Domtar, a leading U.S. supplier of fiber-based products.
Domtar will remain a stand-alone business entity
Paper Excellence has indicated its intention to continue Domtar's operations as a stand-alone business entity. Domtar will continue to be led by its management team and Paper Excellence plans to retain its corporate and production locations, the two companies said in a joint statement.
"We have long admired Domtar's expansive global presence and believe it will be a valuable asset for Paper Excellence. We look forward to investing in Domtar's assets and employees to drive long-term growth." said Paper Excellence's global CFO, Joe Ragan.
Paper Excellence operates seven mills in Canada with over 2,800 employees, producing and shipping over 2.8 million tons of product annually.
Domtar manufactures and distributes uncoated freesheet paper in North America and is one of the largest pulp manufacturers in the world. The group has 13 pulp and paper mills and 10 manufacturing and converting facilities in Canada and the United States with 6,400 employees. It supplies a wide variety of fiber-based products, including communication, specialty and packaging papers, market pulp and compressed air nonwovens.
