Resolute Acquires Full Ownership of Donohue Malbaie

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced the closing of a transaction to acquire the 49 percent equity interest held by The New York Times Company in Donohue Malbaie Inc. for a cash purchase price in the amount of C$20 million. Resolute already owned 51 percent of the shares of Donohue Malbaie.

Donohue Malbaie owns and operates a paper machine with an annual production capacity of 224,000 metric tons of newsprint in Clermont (Quebec). The Clermont operation, which employs 153 workers, also houses all the equipment that produces the thermomechanical pulp supplying the machine. With this transaction, Resolute becomes sole owner of the Clermont operation.

“The New York Times Company has been an outstanding business partner since the late 1960s, and we thank the organization for its support over the years,” said Richard Garneau, president and chief executive officer. “The time was right for Resolute to take full ownership of Donohue Malbaie, and today’s transaction illustrates the company’s confidence in the operation as well as our continued investment in the Province of Quebec.”

Jim Follo, executive vice president and chief financial officer of The New York Times Company, said: “We’ve relied on the high-quality product produced in the Clermont mill to print The New York Times each day, and we’re grateful to the team there. Resolute will remain our primary supplier of newsprint, and we look forward to a continuing relationship.”
http://resolutefp.mediaroom.com/2017-12-21-Resolute-Acquires-Full-Ownership-of-Donohue-Malbaie

Related Posts

Northern Pulp provides an update on CCAA process

Northern Pulp Nova Scotia announced that the British Columbia Supreme Court (the “Court”) has approved the requests made by Northern Pulp to, among other things, extend the protection under the Companies’ Creditors Arrangement Act (the “CCAA”) to October 31, 2021. The Court has also approved the amendment of the interim financing milestones under the interim financing facility to coincide with the Stay Extension and approved an additional draw of $6.0 million to meet obligations during the extended timeframe. Throughout the Stay Extension, Northern Pulp will continue to manage and maintain the mill and advance plans to transform its operations.

Mondi exceeds 95% certified base paper for release liners and extrusion solutions

Mondi, a global leader in sustainable packaging and paper, has switched more than 95% of its range of release liners and extrusion solutions to PEFC and FSC™ certified base paper sources*. This is a further step towards responsible sourcing and transparency in the supply chain and also reflects Mondi’s ongoing commitment to develop solutions that are sustainable by design and support customers in achieving their sustainability goals. By using certified paper sources, it supports traceability and sourcing from forests that are managed responsibly. All parties involved are committed to producing responsibly sourced paper.

Meadow Lake Mechanical Pulp Celebrates 30 Years in Operation

Along with members of the community, provincial and federal elected representatives, staff at Meadow Lake Mechanical Pulp mill (MLMP) and Paper Excellence Canada today celebrated 30 years of the pulp mill being in operation. The mill is located just east of Meadow Lake and has been operational since 1992. MLMP was the first mill Paper Excellence Canada acquired in 2007. The mill employs over 200 full-time employees, creates approximately 1,300 direct and indirect jobs, and creates approximately $470 million in economic activity annually. MLMP produces approximately 400,000 tonnes of bleached chemi-thermal mechanical pulp (BCTMP) annually. BCTMP is used to make a variety of products from tissue and paper towel to food and board packaging.
Back To Top
×Close search
Search