West Fraser to Sell Two Pulp Mills in Western Canada to Atlas Holdings

West Fraser Timber Co. Ltd. (“West Fraser” or the “Company”) (TSX andNYSE: WFG) and Atlas Holdings (“Atlas”) today announced the signing of a definitive agreement for the sale of West Fraser’s Quesnel River Pulp mill in Quesnel, British Columbia and its Slave Lake Pulp mill in Slave Lake, Alberta to Atlas. Atlas owns and operates several pulp, paper and wood products businesses in Canada and the United States.

Millar Western logoThe agreement announced today includes related woodlands operations and timber holdings in Alberta and a long-term fibre supply agreement for the Quesnel River Pulp facility.

Upon closing of the transaction, the Quesnel River and Slave Lake pulp mills will be operated by Millar Western Forest Products (“Millar Western”), which joined the global Atlas family of manufacturing and distribution businesses in 2017. Millar Western is a more than 100-year-old Canadian forest products company headquartered in Edmonton with existing pulp mill operations in Alberta, establishing a strong foundation and a bright future for the Quesnel River and Slave Lake pulp mills.
more at: https://www.atlasholdingsllc.com/news/west-fraser-to-sell-two-pulp-mills-in-western-canada-to-atlas-holdings/

Related Posts

Tronox Reports Second Quarter 2022 Financial Results

Second Quarter 2022 Financial Highlights: *Produced revenue of $945 million, an increase of 2% compared to the prior year, driven by higher revenue from TiO2 *Generated income from operations of $190 million and net income of $375 million, inclusive of a reversal of a portion of the valuation allowance in Australia relating to deferred tax assets resulting in a non-cash benefit of $262 million *Achieved GAAP diluted EPS of $2.37; adjusted diluted EPS of $0.84 (non-GAAP) primarily due to the exclusion of the Australian valuation allowance reversal of $1.65 *Invested $99 million in capital expenditures, primarily in our newTRON and vertical integration initiatives *Repurchased $25 million or approximately 1.5 million shares during the second quarter; total share repurchases of $50 million year-to-date

Glatfelter Announces Price Increase for US Market

Glatfelter is announcing a price increase for the listed grades and product lines sold in our United States market. The increase will be effective with shipments on or after May 21, 2018. The increase will be 4-8% for the following items: Moistrite® Form Bond; Worthington Index; Glatfelter End Leaf; Moistrite® MICR Colors; Index Card; Natures® End Leaf; Transform®Laser MOCR; Tiffin Tag; Glatfelter Offset; Spring Forge® Offset; Scioto™Ledger; Natures® Book; Spring Forge® Digital; Sealer Envelope; Conserve®; Thor® Plus & Thor® PCW; Carbonizing Bond; digiBOOK®; Hopewell Offset; Adena Opaque®; All Envelope grades; Pixelle® Ink Jet Uncoated Repro Bond; All Cut Size Papers (Mill/Private Label). All current standard differentials and upcharges remain in effect.

Stora Enso completes the divestment of its Hylte paper site to Sweden Timber

Stora Enso has completed the divestment of its paper production site in Hylte, Sweden announced on 27 January 2023, and all related assets to Sweden Timber, a Sweden-based sawmill and planing mill company. The enterprise value of the transaction is approximately EUR 18 million and will result in the reduction of Stora Enso’s annual newsprint paper capacity by 245,000 tonnes. Using 2022 figures as a benchmark, the divestment is expected to reduce Stora Enso’s annual sales by approximately EUR 160 million. As announced earlier, Stora Enso will book a disposal loss of approximately EUR 35 million, in addition to an impairment loss of EUR 19 million recorded in Q4/2022 in its IFRS operating profit in Q2/2023, as an item affecting comparability. The final value will be subject to closing date adjustments.
Back To Top
×Close search
Search