In a statement, the company said it sees growth opportunities in the North American market, especially when it comes to housing
Richmond, B.C.-based Paper Excellence has focused in the past on pulp and paper, but the real prize is Montreal-based Resolute’s lumber assets. Wood products such as softwood lumber accounted for nearly 45 per cent of Resolute’s revenue from Canadian and U.S. operations in the first nine months of 2022.that it approved the proposed acquisition of Resolute, subject to conditions, specifically that Paper Excellence’s wholly owned Domtar Corp. division sell its pulp mill in Dryden, Ont.
For example, Paper Excellence said that with demand for newsprint declining, it is considering eventually halting Resolute’s Gatineau newsprint mill in Quebec and converting the site to instead manufacture packaging paper. But with the transaction subject to other conditions being met, such as approval from the U.S. Department of Justice, Resolute stock is still trading below US$23.44 a share. Resolute’s share price rose 1 per cent to close at US$21.50 on Friday on the New York Stock Exchange.
The divestments will also ensure that healthy competition is maintained to allow for fair pricing of wood fibre supplies at private timberlands in northwest Ontario, the competition watchdog said. Greenpeace Canada said this week that it is worried about the Competition Bureau’s recent consent agreement for Paper Excellence to forge ahead with its takeover plans, subject to pacts to sell the two Ontario mills after the merger closes.
Mr. Kursman said environmental groups have unfairly targeted Canada’s forestry industry. “I am certainly not going to let them define us,” he said.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
More types of plastics, paper, metal accepted for recycling in B.C.B.C. is expanding the types of plastics, paper and metal that are accepted for recycling in blue boxes or at depots.
اقرأ أكثر »
3 pedestrians injured in 2 separate collisions in North YorkThree pedestrians have been seriously injured in two separate collisions in North York.
اقرأ أكثر »
Edmonton firefighters on North Saskatchewan River for winter water rescue training - Edmonton | Globalnews.caWinter swift water rescue operations are among 'the highest risk activities for fire rescue personnel,' EFRS said.
اقرأ أكثر »
One person in critical condition after reported explosion at trailer in North YorkOne person was rushed to hospital with life-threatening injuries following a reported explosion at a trailer in North York late Wednesday.
اقرأ أكثر »
Joel Kotkin: North America has an opportunity to lead the worldHistory is calling on this continent. The future depends on how we respond
اقرأ أكثر »
Mercedes-Benz to launch vehicle-charging network, starting in North AmericaMercedes-Benz will commence construction in North America this year, targeting 2,500 charging points at 400 locations across most U.S. states and Canada by 2027
اقرأ أكثر »