Paper Excellence Group and Resolute Announce Intention to Sell Thunder Bay Pulp and Paper Mill
The Paper Excellence Group and Resolute Forest Products Inc. announced their intention to sell Resolute's Thunder Bay pulp and paper mill to further facilitate the regulatory review process. "Today's announcement is a clear demonstration of our commitment to timely complete the acquisition of Resolute," said Patrick Loulou, vice chair and chief strategy officer of the Paper Excellence Group. "This is a very hard thing to do, but we believe it is necessary in order to accelerate our strategic combination with the Paper Excellence Group," stated Remi G. Lalonde, Resolute's president and chief executive officer. "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."