Domtar Corporation Completes Sale of Personal Care Business

Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced that it completed the previously disclosed sale of its Personal Care business to affiliates of American Industrial Partners for $920 million. This divestiture is a significant milestone in the Company’s strategic transformation to become a leading paper, pulp and packaging company.

“The sale of The Personal Care business is part of our ongoing effort to strategically optimize our portfolio and allows us to strengthen our balance sheet, enhance liquidity and buy back shares,” said John D. Williams, President and Chief Executive Officer. “I want to thank the employees for their hard work and dedication throughout the process, and for their contributions over the years.”

Following the closing of the sale, Michael Fagan, President of Domtar Personal Care, will continue leading the Personal Care business and leave Domtar. Mr. Williams added “On behalf of the Board and Management Committee, I would like to thank Mike for his leadership and exemplary service.”

The Company plans to use $600 million of the proceeds to reduce debt and $300 million to repurchase shares.
https://domtar.gcs-web.com/news-releases/news-release-details/domtar-corporation-completes-sale-personal-care-business

Related Posts

Euro-Graph Publishes October 2021 Statistics of the European Graphic Papers Industry

Total European shipments of graphic papers in October 2021 were down 3.1% vs. October 2020 and were UP 4.5% year-to-date. Total European shipments of newsprint in October 2021 were down 6.4% vs. October 2020 and were down 3.7% year-to-date. Total European shipments of sc-magazine in October 2021 were down 12.5% vs. October 2020 and were UP 0.7% year-to-date. Total European shipments of coated mechanical reels in October 2021 were down 7.6% vs. October 2020 and were UP 2.4% year-to-date. Total European shipments of uncoated mechanical (improved & others) in October 2021 were down 77.2% vs. October 2020 and were UP 3.5% year-to-date. Total European shipments of coated woodfree in October 2021 were UP 13.2% vs. October 2020 and were UP 11.6% year-to-date. Total European shipments of uncoated woodfree in October 2021 were down 0.1% vs. October 2020 and were UP 11.2% year-to-date.

Ahlstrom-Munksjö plans to invest about EUR 27 million for improved financial and environmental performance

As one of the global leaders in electrotechnical paper manufacturing for insulation of high voltage cables and transformers, Ahlstrom-Munksjö plans to increase pulp production capacity and improve environmental performance of the Billingfors pulp line, Sweden. The investment involves rebuilding the recovery boiler and debottlenecking the pulp line. When completed in the third quarter 2019 the plant will meet stricter environmental regulations thanks to improved process combustion, reducing air emissions. Ahlstrom-Munksjö has also decided to modernize the bailing line at Aspa pulp plant, Sweden. The investment of EUR 4 million will improve safety level at the bailing line, improve production efficiency and give access to a more favorable customer mix. The new line is estimated to start during the first half of 2019. During the modernization production will continue normally. Click Read More below for additional information.

Euro-Graph Publishes Monthly Statistics of the European Graphic Papers Industry

Total European shipments of graphic papers in January 2017 were down 1.2% vs. January 2016. Total European shipments of newsprint in January 2017 were down 3.8% vs. January 2016. Total European shipments of sc-magazine in January 2017 were down 10.4% vs. January 2016. Total European shipments of coated mechanical reels in January 2017 were UP 6.7% vs. January 2016. Total European shipments of uncoated mechanical (improved & others) in January 2017 were UP 14.8% vs. January 2016. Total European shipments of coated woodfree in January 2017 were down 1.2% vs. January 2016. Total European shipments of uncoated woodfree in January 2017 were down 4.4% vs. January 2016.
Back To Top
×Close search
Search