Kruger Enters Into a Definitive Agreement for the Acquisition of the Kamloops Pulp Mill Owned by Domtar, Inc.
Kruger announced that its affiliate Kruger Specialty Papers Holding L.P. entered into a definitive share purchase agreement pursuant to which one of its wholly-owned subsidiaries will purchase all the issued and outstanding shares in the capital of DKP Pulp ULC, a legal entity wholly-owned by Domtar Inc. that will, at the time of closing, own and operate the Kamloops Mill located at 2005 Mission Flats Road, Kamloops, British Columbia. The Kamloops Mill produces high quality Northern Bleached Softwood Kraft pulp and unbleached softwood Kraft for customers in North America and Asia. "We're very excited about the opportunities that will arise from this acquisition, not only for Kruger but also for the Kamloops Mill, B.C. wood fibre suppliers and the local community," said François D'Amours, Executive Vice President and Chief Operating Officer for Kruger Inc., Kruger Specialty Papers' parent company. "There is a natural fit between Kruger and the Kamloops Mill, which has an impressive track record in terms of performance, sustainability, health and safety and employee engagement. Kruger has always maintained excellent relationships with its employees, customers, suppliers and communities and will make every effort to ensure a smooth and efficient transition, and to continue and strengthen these relationships."